The dark history of Black Friday
The most commonly known theory for the coining of the term Black Friday, details a scheme which began in the heart of the financial sector of the United States of America - Wall Street.
From slaves being traded after Thanksgiving to Wall Street financial schemes, there are many stories which claim to be the origin of the term Black Friday, many of them dark and some dating back as far as the 1800s.
The most commonly known details a scheme which began in the heart of the financial sector of the United States of America – Wall Street.
It is said financiers Jay Gould and Jim Fisk concocted a plan to buy the nation’s gold with the hope it would send the commodity’s prices sky-high.
Once this was achieved, the duo planned to sell all the gold for an astounding profit. Instead, on September 25 1869 the stock market spiralled into a free-fall with the richest of the rich, and the poorest of the poor all being bankrupted – the event described as Black Friday.
In some circles mention is made of a darker connection to Black Friday, also during the 1800s.
It is claimed that plantation owners operating in the southern states of America would put slaves on offer at discounted prices the day after Thanksgiving.
Another story floating around links Black Friday to American retailers, who after an entire year of operating losses, attempted to bounce back and earn huge profits the day after the US tradition of Thanksgiving, because shoppers would spend exorbitant amounts of money on marked down items.
But, none of these theories may be true.
History.com suggests the true history of Black Friday began in the 1950s, with Philadelphia police coining the term to describe the sheer chaos of hordes of shoppers and tourists who flooded the city for the annual big Army-Navy football game.
Law enforcement were not allowed to take the day off and worked extra-long hours to manage the large crowds and traffic. Shoplifting also became a huge problem.
Come 1961, the term had become widely popularised.
Enter the 1980s, retailers successfully reinvented Black Friday by linking it to the previously mentioned connection of the post-Thanksgiving shopping frenzy displayed by consumers on the hunt for bargains, resulting in the original roots of Black Friday being almost forgotten.
Follow The North Coast Courier on Facebook, Twitter, Instagram & YouTube for breaking news
Telegram Broadcast Service: https://t.me/joinchat/yJULuN8NaCs5OGM0
WhatsApp Broadcast Service: Add The Courier to WhatsApp at 082 792 9405 and WhatsApp your name and surname to be added.
Stay in the loop with The North Coast Courier on Facebook, X, Instagram & YouTube for the latest news.
Mobile users can join our WhatsApp Broadcast Service here, or if you’re on desktop, scan the QR code below.
