Tomorrow is the biggest shopping day of the year; Black Friday. It’s the time of the drastic savings and when most Christmas presents are bought. This year experts estimate £1.9 billion will be spent this Black Friday. While the UK has only embraced the savings on Black Friday in recent years, America is where this tradition started.
We delved deep into America past in the quest to discover the history surrounding Black Friday. With so many different tales about Black Friday and how it became an American tradition it is hard to know just where the day and all the sales came from. We picked some of our favourite theories.
Theory 1: 1869 stock market crash
One origin tale is that it first appeared during the collapse of the U.S gold market on Friday 24th September 1869. Two men, Jay Gould and Jim Fisk, worked together to cheat Wall Street investors. They bought up as much gold as they could get their hands on, which meant that the price started to increase drastically.
The government had scheduled to release their own gold into circulation, but when this happened the price of gold dropped drastically. Lower and lower until the stock market for gold crashed. The Wall Street investors scrambled to sell all their holdings, many having taken loans to buy the once expensive gold. With no money they couldn’t repay their loans, so they were ruined.
Theory 2: 1960s Congestion in Philadelphia
The police in Philadelphia used to complain and moan about the congested streets on the first Friday after Thanksgiving, as most would be travelling in or out of town along with those doing their shopping. The streets where that congested and clogged with motorists and pedestrians the city became black with smog that the cops labelled it ‘Black Friday’.
Theory 3: Balancing of the retail books
The most recent story adding to the history of Black Friday was coined to mark the start of the Christmas shopping period. Ever since 1924 Macy’s Thanksgivings Day Parade the day after has been marked as the unofficial start of Christmas shopping.
For all the stores Black Friday refers moving from the ‘red’ back to the ‘black’ when the accounting books were balanced. This goes back to when the accounts were completed by hand, in black and red ink.
Whatever the past of Black Friday everyone now knows it as the best day to get bargains for Christmas. For decades American shoppers have been clambering at the shop doors in the early hours of the morning to get the best deal, but for the past few years England has welcomed the tradition. Now many shops on the high street like John Lewis and even the big supermarkets like Tesco are bringing Black Friday deals to their customers.
Not wanting to trudge out in the cold before the sun has risen to find those deals?
Then you don’t have to. Many sites offer their Black Friday deals online too, Amazon and Ebay have been the front runners in Black Friday offers for years. They offer everything from electronics to fashion and discount prices.
This year we our running our own Black Friday promotion on a large variety of products. Everything from our newest gifts that make perfect Christmas presents to LED tape that will improve your home. Have a look at our website tomorrow to see all our fantastic offers, just waiting to be yours.
image source: www.flickr.com/photos/diariocriticove/8211477498/ – originating from AFP Reporters