Black Friday is the annual shopping phenomenon that sees stores slashing prices and shoppers flooding malls and online platforms in pursuit of unbeatable deals. But beyond the doorbuster discounts and overnight queues, the term “Black Friday” carries with it a story rooted in American history, economics, and retail evolution. Despite its modern association with consumerism and holiday shopping, the origins of Black Friday are far more nuanced and layered than the average shopper might expect. The phrase has evolved through several historical moments—some with little to do with shopping at all—before settling into its current form as a symbol of massive retail profits and the start of the holiday buying season.
Let’s uncover the true meaning behind the name Black Friday, tracing its origins, cultural shifts, and how it grew into the mega sales event we know today.
The First Recorded “Black Friday”: A Financial Meltdown in 1869
The earliest known use of the term Black Friday has nothing to do with shopping.
On September 24, 1869, a financial scandal rocked the United States. Financiers Jay Gould and James Fisk, infamous for their speculative ventures, attempted to corner the gold market. Their manipulative buying spree drove gold prices to unprecedented levels. But when the U.S. Treasury, under orders from President Ulysses S. Grant, intervened by releasing a large supply of gold into the market, prices collapsed in an instant.
This led to a devastating crash on Wall Street. Investors were ruined. The stock market plummeted. And foreign trade ground to a halt. Farmers saw the value of their crops nosedive, especially key staples like wheat and corn. The day was so catastrophic that it earned the nickname Black Friday, a reference to the chaos and financial ruin it brought.
Though the term would later be reclaimed for entirely different reasons, this 1869 event marks the first moment “Black Friday” entered the national lexicon—as a symbol of disaster rather than celebration.
Philadelphia’s Police Coin a New ‘Black Friday’ in the 1950s
Fast forward nearly a century, and the term re-emerged—this time in Philadelphia during the 1950s.
The Friday following Thanksgiving became notorious among local police officers for its unmanageable crowds, overwhelming traffic, and heightened criminal activity. With the city hosting the annual Army-Navy football game on the Saturday after Thanksgiving, thousands of out-of-town visitors would arrive on Friday to begin their holiday shopping and attend the game.
Retail stores stayed open longer, streets clogged with pedestrians and vehicles, and shoplifters took advantage of the chaos. For the Philadelphia police department, it was one of the most stressful days of the year. They started referring to it unofficially as “Black Friday,” not as a celebration, but as a dreaded day of work when overtime hours were unavoidable and order was difficult to maintain.
Retailers weren’t too fond of the term either—it had negative connotations that clashed with the holiday spirit. They attempted rebranding efforts, trying to rename it “Big Friday” to emphasize potential profits and customer traffic. However, the term Black Friday stuck.
The Retail Spin: Turning Red into Black
The turning point came in the late 1980s, when retailers across the country embraced the term “Black Friday” and redefined it in a more positive financial context.
Accounting practices of the time played a major role in this transformation. Retailers traditionally marked losses in red ink and profits in black ink on their financial ledgers. The Friday after Thanksgiving marked the moment when businesses began to turn a profit for the year—finally moving “into the black” thanks to the massive influx of holiday shoppers. Retailers seized the opportunity to rebrand Black Friday as a day of prosperity rather than stress. The idea took hold quickly. As media coverage expanded and advertisements focused on post-Thanksgiving bargains, Black Friday morphed into a national shopping ritual.
The concept was further solidified with the rise of consumer culture in the 1990s and 2000s, as big-box stores like Walmart, Best Buy, and Target began promoting deep discounts, early bird specials, and even midnight store openings.
Digital Shopping Boom and the Rise of Cyber Monday
As online shopping began to dominate retail in the early 2000s, Cyber Monday emerged as a complementary event. Falling on the Monday after Black Friday, it gave digital retailers a chance to cash in on the seasonal shopping craze.
In 2005, the term Cyber Monday was coined by the National Retail Federation to promote online deals. It quickly became a major e-commerce holiday in its own right, further expanding the post-Thanksgiving shopping window. Soon after, other shopping-themed days emerged: Small Business Saturday encouraged shoppers to support local retailers, and Giving Tuesday promoted charitable donations. All of these stemmed from the massive commercial force that Black Friday had become.
How Retailers Use Black Friday Today
What began as a single-day sale now often stretches into an entire week—or even a month—of deals. Retailers start rolling out discounts well before Thanksgiving, aiming to capture early interest and maximize revenue.
In recent years, major players like Amazon, Walmart, and Target have started “Black Friday Preview” or “Early Access” events, offering select discounts in the weeks leading up to the actual day. Online retailers in particular have leaned into extended campaigns, knowing that consumers prefer the convenience and speed of e-commerce.
The COVID-19 pandemic in 2020 accelerated this trend. With health concerns keeping people out of crowded stores, companies shifted their sales strategies online. Curbside pickup, same-day delivery, and digital-only deals became the new standard—and have remained a major part of Black Friday planning ever since.
Why the Name Still Resonates
Despite its evolution from financial ruin to retail celebration, Black Friday continues to carry an element of chaos. Long lines, sold-out inventory, and frenzied buying behavior are all hallmarks of the day, whether in stores or online. Yet, for many consumers, Black Friday offers a practical opportunity to save money during the expensive holiday season. The day’s massive discounts on electronics, apparel, toys, and appliances help families stretch their budgets, even if they have to brave packed parking lots or compete in digital shopping carts.
Meanwhile, for businesses, Black Friday remains one of the most profitable days of the year. It’s a vital checkpoint for retailers, allowing them to gauge consumer sentiment, clear excess inventory, and secure strong revenue going into December.
When Is Black Friday in 2025?
In 2025, Black Friday falls on November 28, the day after Thanksgiving. As always, it will kick off a weekend of shopping events that now includes:
- Small Business Saturday on November 29
- Cyber Monday on December 1
Retailers are expected to launch pre-Black Friday deals as early as late October, with major online and in-store events beginning in earnest in the first two weeks of November.
Consumers looking to make the most of the season should plan early, keep an eye on ads from their favorite retailers, and track prices over time to ensure they’re actually getting a good deal.
The journey of Black Friday from a financial disaster in the 19th century to a 21st-century shopping bonanza reveals the power of language, marketing, and cultural adaptation. What was once a term of dread for Philadelphia police officers and Wall Street traders has been transformed into a cornerstone of American consumer behavior. With its evolving strategies, early rollouts, and growing digital presence, Black Friday is no longer just a day—it’s a season that reflects both the retail industry’s resilience and the shopper’s unrelenting quest for value.
