Black Friday is no longer just a day; it’s a global phenomenon, a high-octane retail ‘festival’ that kicks off the holiday shopping season. Synonymous with chaotic crowds, aggressive doorbusters, and jaw-dropping discounts, this event has cemented its place in the consumer calendar. Yet, behind the spectacle of slashed prices lies a complex story of rebranding, intense marketing, and a growing skepticism from modern shoppers about the true value of the deals on offer.

This article dives into the origins of Black Friday, explores how companies have elevated it into a cultural shopping event, and scrutinizes the modern trend where marketing theatrics often overshadow genuine discounts.

The Genesis of Black Friday: From Calamity to Commerce

The term “Black Friday” has a history much darker and more dramatic than its current retail association suggests. Its origins are not definitively tied to retail, but rather to a financial disaster.

1869: The Original ‘Black Friday’

The earliest notable use of the term was on September 24, 1869, referring to a catastrophic financial crisis in the U.S. gold market. Two financiers attempted to corner the gold market, leading to a dramatic price collapse when the government intervened. The resulting panic ruined fortunes and marked the day in history as a financial calamity.

1950s: The Philadelphia Police Story

The direct link to the day after Thanksgiving emerged in Philadelphia in the 1950s. Police officers began using the terms “Black Friday” and “Black Saturday” to describe the enormous crowds, severe traffic congestion, and general chaos created by suburban shoppers and tourists pouring into the city for the start of the holiday shopping season and the annual Army-Navy football game. It was a derisive term for a day that was a massive headache for law enforcement.

1980s: The Retailer’s Rebrand

Retailers were understandably uncomfortable with the negative connotation. By the 1980s, an alternative—and more favorable—explanation was widely propagated: the day marked the point when stores moved from operating at a financial loss (recorded in red ink, or “in the red”) to achieving a profit (recorded in black ink, or “in the black”). This clever marketing twist successfully transformed the name from a symbol of chaos into a celebration of profit and a tradition.

The Retail Festival: How Companies Turned a Day into an Event

Today, Black Friday has shed its local roots and become a global marketing vehicle. Companies use sophisticated strategies to cultivate an atmosphere of urgency, excitement, and cultural significance, effectively turning a discount day into a must-attend retail “festival.”

• The Extension of the Sale: The single-day event has expanded into “Black Week,” “Black November,” and is instantly followed by “Cyber Monday.” This extended period captures sustained consumer interest and maximizes sales volume.
• Creating FOMO (Fear of Missing Out): Retailers leverage psychological triggers by advertising “limited stock,” “doorbusters,” and using prominent countdown timers on websites. This manufactured scarcity and urgency pressure shoppers into making rapid purchase decisions.
• The Start of the Holiday Season: It is aggressively promoted as the official kick-off to holiday gifting. Shoppers are encouraged to get ahead and save big on gifts, positioning the event as the most responsible way to shop for Christmas.
• Experiential Shopping: Particularly in-store, but also online, the event is treated as entertainment—part planning, part adrenaline rush. Early-bird specials and VIP early-access for loyalty members further enhance the feeling of exclusivity and event participation.
• Strategic Inventory Management: For retailers, Black Friday is a critical opportunity to clear out older inventory, particularly seasonal or big-ticket items like electronics, to make room for new year stock.

The Marketing Stunt: Sifting Through the Deals

While Black Friday promises unparalleled savings, a growing trend has exposed the event as being, in part, a massive marketing stunt where transparency is often compromised. Modern shoppers are increasingly aware that the hype doesn’t always match the reality.

The Perception Gap

Surveys and consumer reports have frequently highlighted a gap between the discounts promised and the value delivered:

1. Selective Discounting: The most visible, deepest discounts (e.g., 50% off) are often applied only to a very small number of “doorbuster” items—usually limited stock big-ticket products intended solely to lure shoppers into the store or onto the website.
2. Exclusion of Core Products: Many of a company’s best-selling or high-demand non-seasonal products are often excluded from the deepest discounts. The vast majority of the store’s inventory may receive only a modest 10-20% off, or sometimes no discount at all.
3. Price Inflation Tactics: Some retailers have been known to slightly raise the “original price” in the weeks leading up to Black Friday. This makes the heavily advertised discount percentage appear much more significant than the actual saving over the item’s standard retail price.
4. “Seasonal” or Older Stock: Discounts are frequently aimed at clearing out older models, discontinued lines, or highly seasonal products. Customers often buy a technically “deeply discounted” product without realizing a newer version is already available.

Navigating the “Trust Economy”

This skepticism has given rise to the “Trust Economy,” a trend where consumers prioritize retailers who are transparent and authentic. In response, some companies, like Deciem (The Ordinary), have chosen to disrupt the traditional frenzy by promoting “Slowvember,” offering a consistent, smaller discount all month long instead of a frantic, one-day flash sale. This focuses on mindful shopping and brand values over manufactured chaos.

The Future: AI, Omnichannel, and the Conscious Consumer

The Black Friday phenomenon continues to evolve, driven by technology and changing consumer behavior:

• The AI Influence: Artificial Intelligence is increasingly used by shoppers for deal-optimisation, automatically finding the best prices, and by retailers for hyper-personalized marketing and instant customer service.
• Omnichannel Dominance: The shopping experience is seamlessly integrated. Shoppers use mobile phones to compare prices while in a physical store, and they expect easy Click and Collect (online order, in-store pickup) options.
• Gen Z’s Early Start: Younger shoppers, particularly Gen Z, are highly price-sensitive and lead the trend of shopping aggressively for early-bird deals, often making their biggest purchases online between 6-9 AM on Black Friday morning.

Conclusion

Black Friday is a fascinating case study in retail marketing. What began as a local term for chaos has been expertly rebranded into a cultural event that signals the start of the spending season. While it undeniably offers genuine deals, modern shopping trends highlight that it is also a masterclass in psychological marketing, where the perception of a bargain can be as powerful as the bargain itself.

For the savvy shopper, the key is to be a conscious consumer: do pre-sale price checks, look past the 50% doorbuster headlines, and focus on the true value of the products you need.

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