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History and Evolution of Black Friday: A Story of Greed


Black Friday could have had a positive impact and a booming economy, but its history had nothing to do with it. It was there, American passion, violence and thought, beginning with the first incarnation of Black Friday, September 24, 1869.

In the height of the Golden Age, two foreigners named Jay Gould and Jim Fisk were fishing for gold. It was right after World War I, and the American economy was in turmoil. 

Gould and Fisk save as much gold as they can, raise prices, and make more money. It's like two checkers of all American toilet paper and paid a hefty price when COVID first came out. The payment plan when Gould and Fisk brought the bank $ 60 million after buying gold.

They also used their political affiliation to persuade the government not to put gold on the market, to stand alongside President Grant's brother. But on the last day of September 1869 President Grant changed his mind. He decided to take millions of dollars in gold to the streets, causing the price of gold to plummet.

The Gould and Fisks plan failed, and falling gold prices hit many Wall Street consumers, causing them to lose millions. This day was called “Black Friday”.

How Black Friday Evolved
The next time Black Friday was popular it was in Philadelphia.

Even in the 1950s, Philadelphia was passionate about sports.

Buyers filled the town ahead of Saturday's Army-Navy football game, and people came to see it, some breaking and flying. According to History.com, Philadelphia police called the day

"Black Friday" and had to make additional changes to cope with the crowds.
Since then, the word has created a new meaning for retailers. Angeli Gianchandani, Marketing Specialist at the University of Pompea College of Business, said: New Haven.

But Thanksgiving and Christmas have always meant shopping and spending a lot of money, even during the Great Depression during the presidency of Franklin Delano Roosevelt.

According to Bruce Forbes, author of "America's Favorite Holiday: A Honest History," explains, "For his presidency in the early years, Thanksgiving was the last Thursday in November." The Friday after Thanksgiving is not called Black Friday, but it was chosen as the start of the Christmas market.

After a few harsh winters as the Great Depression neared, "the FDR was pressured to move Thanksgiving from last Thursday to next Thursday for a commercial delay. Christmas shopping,

The primary goal of FDR can be achieved with the increase in online shopping, further enhanced by the spread. According to Gianchandani, the Black Friday concept has now been abandoned and replaced with "Black November," as retailers expect to make sales throughout November and start announcing earlier and earlier each year, according to Gianchandani.

In fact, the concept of Black Friday has become meaningless and evolves over time, explains Gianchandani.

Gianchandani pointed out that for companies like Amazon, large online stores can create the desired product even in the middle of the year with events like Prime Day. And with more trading and tracking tools, retailers can reach customers with just a few clicks at a time, Black Friday or not.

The Black Friday period has seen many changes over the years, ranging from angry campaigns to domineering Philadelphia, the perks of retail. As the tech industry progresses, Black Friday may reappear as a new theme.