The History of Black Friday
A Deep Dive for Marketers
Black Friday is more than just a shopping event, it’s a cultural and commercial phenomenon that has transformed the retail landscape. For marketers, understanding its history provides valuable insights into consumer behaviour, cultural trends, and marketing strategy. Let’s unpack the origins, evolution, and marketing lessons from Black Friday.
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Cultural Origins: From Chaos to Celebration
The term Black Friday didn’t originate in retail. Its roots trace back to the 19th century, associated with financial crises. The most notable was the “Black Friday” of 1869, when a gold market crash caused economic turmoil in the United States. Fast forward to the 20th century, and the phrase took on a more familiar connotation, but not in a way that would excite marketers just yet.
In the 1950s, police in Philadelphia used “Black Friday” to describe the chaos that ensued the day after Thanksgiving. Suburban shoppers flocked to the city ahead of the annual Army-Navy football game, causing gridlock and overburdening law enforcement. It wasn’t exactly a positive term, until retailers recognised its potential.
Flipping the Narrative
Retailers began to reframe Black Friday in the 1980s, giving it a more consumer-friendly spin. Instead of focusing on chaos, they highlighted the profitability of the day, coining the idea that this was when retailers moved “into the black” a term meaning they were finally turning a profit for the year.
Commercial Evolution: The Birth of a Retail Juggernaut
The 20th Century: Seeds of a Tradition
By the mid-20th century, the day after Thanksgiving was unofficially recognised as the start of the holiday shopping season in the US. Macy’s Thanksgiving Day Parade, which began in 1924, helped cement this tradition. However, it wasn’t until the late 20th century that Black Friday became a branded event with coordinated sales and doorbuster deals.
Retailers, led by department stores, began promoting exclusive discounts on this day to entice shoppers. The concept was simple: create a sense of urgency with limited-time offers. It worked, and Black Friday grew into a major shopping day in the US.
The 21st Century: A Global Phenomenon
With the rise of e-commerce, Black Friday transcended its American origins. Retail giants like Amazon made it a global affair, and countries worldwide adopted their own versions. In the UK, Black Friday only gained significant traction in the 2010s, driven by companies like Amazon and Asda (owned by Walmart).
The period from Black Friday through Cyber Monday became known as “Cyber Week,” expanding the opportunity for revenue generation. In 2020, online Black Friday sales reached record highs due to the pandemic, solidifying its status as a key date in the retail calendar.
Key Marketing Lessons from Black Friday
Black Friday’s history is rich with marketing strategies that have turned a chaotic day into a cornerstone of retail success. Here are the key takeaways for marketers:
1. Harness Urgency and Scarcity
From the beginning, Black Friday has thrived on urgency; limited-time offers, exclusive deals, and midnight openings. These tactics tap into FOMO (Fear of Missing Out), a powerful psychological driver. Marketers can use urgency to incentivise immediate action, but it must be authentic to maintain trust.
2. Leverage Multi-Channel Strategies
Black Friday’s evolution from in-store chaos to an omnichannel experience highlights the importance of meeting customers where they are. Whether it’s leveraging email campaigns, social media ads, or in-app notifications, an integrated approach maximises reach and impact.
3. Build Anticipation
Retailers tease Black Friday weeks in advance, building a sense of excitement. Countdown campaigns, sneak peeks, and early access offers generate buzz and ensure the brand stays top-of-mind.
4. Know Your Audience
As Black Friday has gone global, marketers have had to adapt their strategies to local markets. For example, in the UK, where Thanksgiving isn’t celebrated, brands must create standalone campaigns that resonate culturally while maintaining the global Black Friday identity.
5. Plan for the Digital Surge
The rise of online shopping has shifted Black Friday’s focus to digital platforms. For marketers, this means preparing for spikes in web traffic, optimising mobile experiences, and leveraging retargeting ads to capture shoppers who abandon their carts.
The Future of Black Friday: Opportunities for Marketers
Black Friday continues to evolve, shaped by technology, consumer expectations, and economic factors. Here are some trends to watch:
- Sustainability: As consumers become more environmentally conscious, brands offering sustainable deals or promoting mindful consumption may stand out.
- Personalisation: Leveraging data to offer tailored Black Friday deals can improve customer loyalty and increase sales.
- Extended Shopping Periods: Many brands now offer “Black November” or extend deals into December, spreading out demand and reducing logistical strain.
Conclusion: A Marketer’s Dream Event
Black Friday is a case study in how culture and commerce intersect. Its transformation from a day of gridlock and stress to a global shopping phenomenon illustrates the power of reframing narratives and seizing opportunities.
For marketers, Black Friday is not just about selling; it’s about storytelling, strategy, and understanding what motivates consumers. By learning from its history, we can craft campaigns that resonate, deliver value, and, most importantly, connect with audiences in meaningful ways.
