The most eagerly awaited discount shopping event of the year is just around the corner and most of us have started jotting down our Black Friday wish lists.
In the midst of this retail frenzy, have you ever stopped to wonder how this all came about? Where did Black Friday originate?
If you’re one for folk tales and interesting theories, you may want to do some research, because these theories go way back. However, the first use of the term dates back to Friday, September the 24th, 1869, when the crash of the US Gold Market resulted in a major financial crisis – otherwise known as ‘Black Friday’.
I know what you’re thinking, “But that has nothing to do with discounted retail therapy?” and most people would agree, which is why the most widely accepted origin of the term, ‘Black Friday’ is traced back to when accounting records were kept by hand: if a retailer had made a loss, the numbers would be recorded in red ink and if the retailer had made a profit, it would be recorded in black ink. Retailers earn record amounts of profit on Black Friday, essentially allowing their books to go into the ‘black’.
Once retailers realised that they are able to draw massive crowds of eager shoppers, by dropping their prices drastically, the idea of providing ‘one-day-deals’ became a trend and the Black Friday we all know and love, was born. The hype has become contagious, with ‘Black Friday’ being marketed on all platforms by various leading retailers.
Discount vouchers, massive savings and extended shopping hours… what’s not to love?
Be sure to visit All Bags to take advantage of our incredible Black Friday specials!
May your carts be full, your parking options be plentiful and your account balance abundant, this Black Friday!
Happy shopping xx