Black Friday, once synonymous with pre-dawn chaos and packed stores, remains one of the most significant days for retailers, albeit in a changed form. The advent of online shopping, extended sales periods, and evolving consumer habits have diluted the singular frenzy of the day, but its relevance persists in the retail calendar.
The Origins of Black Friday
The term “Black Friday” emerged in 1960s Philadelphia, used by police to describe the crowds flooding the city for post-Thanksgiving shopping and the annual Army-Navy football game. Retailers reclaimed the term, associating it with financial success—turning profits from “red” to “black” on their balance sheets. Over the decades, the day became a cornerstone of American consumer culture, with stores competing to open earlier and offer bigger discounts.
In recent years, however, employee activism and shifting shopping habits have reversed some of these trends. Many retailers now close on Thanksgiving, and the emphasis has shifted toward monthlong promotions rather than a single-day blowout.
The Decline of Black Friday’s Chaos
The traditional mad dash to stores has given way to a more subdued approach. Online sales, which surged during the pandemic, have made it unnecessary to wake up at 5 a.m. for deals. Retailers like Amazon and Walmart now extend Black Friday sales for weeks, with promotions often starting in early November. For instance, Best Buy began its discounts on November 21 this year, while Target launched “early Black Friday” deals weeks ahead.
Despite the shift, millions still shop in person on Black Friday, often viewing it as a cultural event or simply a way to spend a day off. This year, more than 130 million people are expected to shop, with nearly two-thirds doing so in physical stores, according to the National Retail Federation (NRF).
Cyber Monday, created in 2005 to encourage online shopping, has grown into another major retail event. However, Black Friday’s online sales now often outpace Cyber Monday, reflecting the seamless blending of in-store and digital experiences.
Why Black Friday Still Matters
For retailers, Black Friday remains crucial despite changes in consumer behavior. With inflation dampening spending, discounts are an effective strategy to entice budget-conscious shoppers. Target and Best Buy, which have faced weaker-than-expected earnings, see Black Friday promotions as a way to boost revenue.
As Brian Cornell, CEO of Target, noted, shoppers are more strategic, focusing on discounts and stocking up when prices drop. This evolution underscores Black Friday’s enduring adaptability in the face of changing times.
While it may lack its former chaos, Black Friday’s significance for both consumers and retailers remains undeniable, proving that this retail tradition is far from obsolete.