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The History Of Black Friday, Everything You Need To Know

The positive aspect of traditions is that, for better or for worse, they are handed down even when they are not linked to religious events or important anniversaries for a nation.

One of these traditions, which for some years has also spread in our country, takes the name of “Black Friday”, one of the most awaited moments of the season which, for shopping enthusiasts, is undoubtedly all but “Black”.

In short, a global appointment, which affects both virtual and physical stores, large e-commerce (see our website Scalia Group ), and large distribution chains in fact offer unmissable discounts which, compared to the list price, constitute real bargains…

But where does this anniversary come from? Let’s find out the details! Here’s everything you need to know.

The History of Black Friday

The term Black Friday traces its origins to the financial crisis linked to the collapse of the US gold market on September 24, 1869.

Two well-known Wall Street businessmen, Jay Gould, and Jim Fisk joined in an economic partnership to buy as much gold as they could, hoping to push the price higher and sell it for staggering profits.

However, on that Friday in September, the conspiracy broke up, sending the stock market into free fall and bankruptcy, from the most prominent men on Wall Street to rural farmers.

In reality, few know the true story behind the origins of Black Friday, more commonly known, in fact, for its connection with the world of shopping than with that of high finance, but this is its true origin. and now we explain why it is “black”.

As the story goes, following the collapse of the gold market on September 24, 1869, shopkeepers of any category went through an entire year at a loss, marked in red in the sales records.

The day after Thanksgiving, however, those same shopkeepers applied very strong discounts that pushed the American people to move en masse and to buy by increasing profits, thus restoring the black color within the registers.

All businesses recorded their accounting records with a pen in black and red. The first represented the accounts in surplus, the second those at a loss, thus making the day dedicated to sales, discounts and the shopping rush “black”.

But this is not only the story to which the Black Friday tradition is linked, there is another, in fact, to which, potentially, it could be connected, namely the days when the slaves were sold off.

It is said, in fact, that the rich landowners, after Thanksgiving, we’re preparing to face the winter by buying a new workforce to face the cold season on the plantations, taking advantage of a discounted price by the slave traders.

Today, the history of Black Friday is essentially linked to the world of pre-Christmas sales and shopping which, as already mentioned, brings with it a lot of more or less recent history.

One of the most famous urban legends has it that in the 1950s, Philadelphia city police negatively adopted the term to describe the chaos that followed the day after Thanksgiving when hordes of suburban shoppers and tourists poured into the city well in advance. compared to the great navy football game that takes place every year in the city.

Because of this turmoil, the Philadelphia police couldn’t take a day off and had to work extra-long shifts in order to handle the additional crowds and traffic.

When “Black Friday” arrived in Philadelphia in 1961, shopkeepers and traders tried in vain to change it to “Big Friday” to remove the negative connotations but the word did not publish to the rest of the countryside and it never came into use.
It wasn’t until the late 1980s that distributors found a way to restore the Black Friday. They turn it into something positive, rather than negative, on them and their patrons.

The result was the mental shift that would positively condition “from red to black,” the idea that the day after Thanksgiving Americans could officially begin preparing for Christmas shopping and holidays.

In fact, the negative meaning of the term was soon forgotten until this tradition was transformed into a four-day event which, consecutively, also generated Cyber ​​Monday, a day of sales dedicated to e-stores that empty their warehouses with discount vouchers and other promotional codes comparable to those of Black Friday.

In this case, therefore, the promotions can only be found online, presumably on the same e-commerce that proposed them a couple of days before.

Today analysts are able to estimate the volume of Christmas sales also thanks to the influx of buyers during this particular week which officially opens the door to compulsive shopping.

Riccardo Mangiaracina, head of the B2C Netcomm eCommerce Observatory at the Politecnico di Milano explains: “All operators are now ready with increasingly aggressive promotions and offers every year, with free shipping costs and with average discounts of 30%, which can also reach to 80%”.

“Black Friday” is, therefore, the best day that allows the consumer to take a whim, to buy Christmas gifts with greater convenience and why not, also for companies to grow their turnover, a detail that should certainly not be underestimated!

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