“Black Friday” — The Reality Not The Myth

Myth:

Black Friday derives its name from the fact that, because of the boost in sales experienced on the day, retailers are able for the first time in the year to move out of the red – that is, debt — and into the black, or profit.

Reality:

The name (Black Friday) took hold in Philadelphia, in the 1970’s. The streets and sidewalks of the City of Brotherly Love became so packed with traffic and crowds on the day after Thanksgiving that the local police looked forward to that day with dread and gloom. The Philadelphia police coined the phrase, calling it Black Friday, in the same way ruined investors called the day of the 1929 stock market crash Black Tuesday.

Myth:

Black Friday is the most lucrative shopping day of the year.

Reality:

Black Friday is “not” the most lucrative shopping day of the year. . . It is usually not the second or third or even fourth most lucrative day – – – According to the International Council of Shopping Centers, the busiest shopping day of the year, year after year, is the last Saturday before Christmas, sometimes called “Procrastination Saturday.” The last two weekends before Christmas usually comprised the four busiest shopping days of the year.

Myth:

Black Friday shoppers are merrily going from store to store, buying and checking their purchases off their Christmas lists.

Reality:

Most people are not playing Santa on Black Friday. According to the ICSC, nearly 75 percent of the articles purchased on Black Friday are not for Christmas gift-giving but for personal or family use.

GO HERE for a fact packed article about Black Friday that includes a story of how the Fascist FDR was bribed into changing the date of the Thanksgiving Holiday to increase the number of shopping days between Thanksgiving and Christmas for merchants.