Black Friday. Miths and origens
Today is black Friday. An American tradition that is no longer exclusive to the American citizens and its being adopted by many countries around the world. But where black Friday comes from? And what it is about? Let´s see the origins and why is the biggest shopping day of the year.
The first time the term “Black Friday” was use not for the shopping day after thanksgiving. The first use was because of a financial crisis: the crash of gold market in 1869. Two wall street financers tried to buy as much gold as they could to try to rise the price. On Friday September 24th the conspiracy was reveal and the market went down and bankrupt everyone on the Wall Street market
But the well know story about the Thanksgiving shopping in Black Friday it is related to the retail market. Owners were on “red” meaning on loses and used to turn in “black” profits when the Thanksgiving holiday was really popular because of the discounts. Red was the color to mark the loses in the business world while black was the one used to mark the profits. Although this is a popular story, is inaccurate.
The true story of the Black Friday is not smile and rainbows as is understood nowadays. Back in the 50´s, in Philadelphia, Black Friday was the terms to describe the chaos that was around the city. The reason for that chaos was nothing else than the multitudes that invaded the city to shop before the Army-Navy football game that was held the Saturday after Thanksgiving. Police had to work after the holiday, taking longer shifts and nonbeing able to spend the time with their families to take care of tourist and locals all over the city. By 1961, Philly´s merchants tried to change the name to Big Friday to delete the negative connotation but around 1980 the term Black Friday came back but with a positive connotation. The story we told at the beginning around profit and losses was the one that was told back then to turn it into a good thing.
Black Friday spread all over the world and evolved. Now we have black Monday and other days around these dates related to discounts and sales on shopping.
In Spain we also “celebrate” Black Friday. But if you want to do some shopping in the Spanish country you will need some euros. So come to any of our Eurochange offices and exchange your currency into euros. And go ahead and ask us about some shopping centers, we will try to help you out, our rates are excellent but out service it is even better.
November 25, 2022