What is Black Friday? Meaning, Date & Origins

Meaning

Black Friday refers to the Friday following Thanksgiving Day in the United States. It marks the unofficial start of the holiday shopping season and is famous for massive sales, discounts, and doorbuster deals offered by retailers. The term "Black" symbolizes the day when retailers move "into the black" (become profitable) due to the high sales volume.


Date

Black Friday always falls on the Friday after Thanksgiving, which is celebrated on the fourth Thursday of November.

  • In 2024, Black Friday will be on November 29.


Where and When It Started

  • Origin Location:
  • The concept of Black Friday originated in the United States, specifically in Philadelphia during the 1950s.
  • Early Meaning:
  • Initially, it referred to the chaos caused by heavy crowds and traffic as people flocked to the city to shop after Thanksgiving and to attend the Army-Navy football game held that weekend.
  • Evolving Significance:
  • By the 1980s, retailers nationwide redefined "Black Friday" with a more positive spin, focusing on its financial significance. It came to represent the point when stores started making significant profits ("in the black") instead of losses ("in the red").


Global Expansion

Over time, Black Friday has become a global shopping phenomenon. Countries like Canada, the UK, India, and even nations without Thanksgiving now participate in Black Friday sales, often as part of online shopping events.

The value of money moved during Black Friday is staggering, reflecting its position as one of the busiest shopping periods of the year. Here's a breakdown:

In the U.S. (2023 Figures)

  • Total Spending: Approximately $9.8 billion was spent online on Black Friday alone, setting a record for e-commerce sales.
  • Thanksgiving to Cyber Monday (5-day period): U.S. consumers spent over $35 billion, with significant contributions from in-store and online shopping combined.
  • Average Spending Per Shopper: Around $325 for the weekend.

Global Spending

Globally, Black Friday spending is estimated to surpass $100 billion, driven by both physical stores and online platforms like Amazon and Alibaba.



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