By Julian Rosete
It all started Sept. 24, 1869, when the word Black Friday was first used, but not in the way we know it as today.
“The term Black Friday was used in the U.S to describe a financial crisis in 1869,” according to Jennie Wood from the New York Times. This financial crisis consisted of two men named Jay Gould and his partner in crime James Fisk who attempted to uphold and buy out the gold market on the New York Gold Exchange. This caused a gold panic across the country, but this is not the reason for those crazy sales on a new television.
The day became known as “Black Friday” after a newsletter from the Philadelphia Public Relations Association in 1961 referred the day as a day to begin the shopping season. They labeled this day as a shopping day because it was defined as the first day of Christmas shopping. This is because the two days after Thanksgiving are considered the busiest shopping days for downtown merchants across the country. These days were then called Black Friday and Black Saturday, but why? The reason for this is that companies are “in the red” meaning regressing in sales all year until that Friday hits their margin goes “in the black” meaning they gain a ton of profit.
Before the 2000’s hit, almost all retailers opened their doors at 6 a.m. to maximize their profit on this day. They then began to realize they can open even when they began to notice customers camping out for the sales. The late 2000’s is when states began to open their doors, at 4-5 a.m.
Retailers began to receive backlash from the people because of the hard labor employees have to go through on this day, but that didn’t stop the companies. In 2013, Walmart decided to open doors in the day of Thanksgiving at 8 p.m. Stores began to follow this and it’s been happening to present day. Till this day debates still arise on if stores should be open on the day of Thanksgiving because of Black Friday.
Some alternatives names that could have changed the name we all know today is when a deputy of Philadelphia felt that the name Black Friday and Black Saturday was considered to give a negative outlook on this shopping day. Deputy Abe S. Rose recommended to change the name to Big Friday and Big Saturday to make the day seem more positive. This idea was shot down when the New York Times decided to refer to it as Black Friday, making it official to what we all know as today