In recent years, Black Friday may have become established and celebrated almost worldwide as the day with the biggest offers in the market, but things were not always like this.
The history of Black Friday goes back quite a bit in the past, specifically to the day after Thanksgiving in September 1869. Two speculators - Jay Gould and James Fisk - caused fluctuations in gold prices, resulting in a 50% drop in stock market and commodity prices.
In 1905, the Eaton’s department store held the first Thanksgiving parade, which inspired Macy’s to hold its own in 1924 in New York City. The parade was so successful that the next day there was a significant increase in shopping, and merchants agreed to wait until that day to start advertising holiday deals.
In 1939, the Great Depression occurred and Thanksgiving was celebrated in the fifth week of November. This led merchants to ask then U.S. President Franklin D. Roosevelt to move the holiday to the fourth Thursday, to have more time in the festive period. However, it was already too late, as by the end of October most people had already planned for the holiday.
Two years later, in 1941, a law was enacted, according to which Thanksgiving would be celebrated on the fourth Thursday of November. This left a four-day window for workers, many of whom began in the 1950s to take sick leave on Friday, when stores were open and they could enjoy the festive period to the fullest. Some businesses even designated the day as another paid holiday.
