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The Origins of Black Friday: A Historical Perspective

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New Mexico Real Estate Group ,

The Early Days: The term "Black Friday" was first used not in a shopping context but to describe a financial crisis. In 1869, two Wall Street financiers, Jay Gould and Jim Fisk, caused a market crash by attempting to corner the gold market. The day when the U.S. gold market collapsed was a Friday, thus dubbed "Black Friday."

A Shift in Meaning: The transition of "Black Friday" to a shopping context happened in the 1950s in Philadelphia. The day after Thanksgiving was the unofficial start to the holiday shopping season. The Philadelphia Police Department used the term "Black Friday" to describe the chaos that ensued on the streets filled with shoppers and tourists gearing up for the Army-Navy football game held on that Saturday every year.

Retailers’ Adoption: By the late 1980s, retailers found a way to reinvent Black Friday into something positive. The narrative changed to suggest that this day was when retailers would go from being “in the red” (losing money) to “in the black” (making profits). The term caught on, and Black Friday became the day to find the best deals and discounts.

Black Friday Today: Today, Black Friday has expanded beyond just a single day. It often stretches over the entire weekend and is followed by Cyber Monday, a day dedicated to online shopping deals. This shopping phenomenon has also spread globally, with countries around the world hosting their own Black Friday sales.

The Impact on Real Estate: Interestingly, Black Friday has an indirect impact on the real estate market as well. The economic boost from the shopping frenzy can lead to increased consumer confidence, which in turn can energize the real estate market. Moreover, the technology and home appliance deals available on Black Friday are often utilized by new homeowners to furnish their homes.

Remember, while you’re shopping for deals this Black Friday, it might also be the perfect time to consider investing in real estate. Happy shopping and happy holidays from New Mexico Real Estate Group!

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