Black Friday: From Financial Turmoil to Shopping Frenzy

Black Friday has transformed from a term denoting financial disaster to a cornerstone of holiday shopping in the United States.

 

Originally, "Black Friday" described the 1869 financial panic caused by speculators Jay Gould and Jim Fisk's attempt to corner the gold market, leading to widespread economic turmoil.

 

In the 1960s, Philadelphia police used the term to describe the chaos ensuing from massive crowds and traffic the day after Thanksgiving, as shoppers and tourists flooded the city.

 

Retailers later redefined "Black Friday" to signify the point when stores shift from operating at a loss ("in the red") to achieving profitability ("in the black"), marking the unofficial start of the holiday shopping season.

 

Over time, Black Friday has evolved into a global phenomenon, with retailers worldwide offering significant discounts to attract consumers.

 

In recent years, the shopping landscape has shifted dramatically.

 

In 2024, approximately 197 million Americans participated in shopping activities during the Thanksgiving weekend, with a notable increase in online sales.

 

Mobile commerce has surged, accounting for 57% of global e-commerce sales during Black Friday in 2024, highlighting the importance of mobile-optimized shopping experiences.

 

To navigate the modern Black Friday landscape effectively, consider the following consumer tips:

 

1. Create a Shopping List

 

Identify desired items and set a budget to avoid impulse purchases.

 

2. Utilize Price Tracking Tools

 

Employ tools like CamelCamelCamel or Honey to monitor price fluctuations and ensure genuine discounts.

 

3. Compare Prices Across Retailers

 

Use platforms like Google Shopping to evaluate deals from multiple stores.

 

4. Leverage Loyalty Programs

 

Join retailer loyalty programs for early access to deals and exclusive offers.

 

5. Be Cautious with "Buy Now, Pay Later" Options

 

While convenient, ensure you can manage installment payments to avoid financial strain.

 

6. Prioritize High-Discount Categories

 

Focus on electronics, small appliances, and apparel, which often feature the most substantial discounts.

 

7. Stay Informed About Local Deals

 

Monitor local retailers for exclusive in-store promotions and events.

 

By understanding the history and adapting to current trends, consumers can make informed decisions and maximize their Black Friday shopping experience.