Coffee cup in one hand, coffee pouch in the other, Rachelle turned the corner to the breakroom and noticed Clay staring intently at the sales ad on his tablet.
“How’s the accounting department this morning Clay?” Rachelle asked as she popped her k-cup into the coffee maker.
“Oh, hi Rachelle. Man, have you noticed how early these Black Friday ads come out? Feels like they start right after Halloween now!”
“Yep, it’s like they don’t give Thanksgiving any breathing room anymore. But it does make sense for retailers. Black Friday is when most of them crush it in profits.”
“Right? It’s pretty interesting how the term ‘Black Friday’ came into existence.”
A history buff and an accountant, Clay always viewed things through a financial lens.
“Really? I thought it was just about shopping and marketing.”
“Well, it hasn’t always been a squeaky-clean phrase. I read somewhere that the term was first used to describe the sale of enslaved Africans shortly after Thanksgiving. I haven’t found anything concrete to back this claim up, but I don’t think it’s too far-fetched.”
“I can see that. Lot of historical injustices to unpack there,” Rachelle said matter of fact.
“Absolutely. The next instance I read about it was in 1869, when the gold market crashed. That involved a couple of con men who tried to corner the gold markets.
“But then in the 1950s, I read where the Philadelphia police started using the term to describe the chaos that followed Thanksgiving when massive crowds flooded the city for shopping and the Army-Navy football game. At one point, there were efforts to change it to “Big Friday” to get rid of the negative connotation, but the police department continued using the term “Black Friday” so it persisted. If the police and retail shops felt as though working the day after Thanksgiving AND dealing with unruly crowds was a bummer, I can see why they viewed it as a black day. I tell you, any phrase that starts with ‘black’ seems to get a bad rap, among other things. But I digress.”
“That crazy! But then how did retailers turn it into being in the black?”
“Great question! In the late 1980s, retailers started marketing it to say they were moving from ‘in the red’ to ‘in the black’, meaning they were finally turning a profit for the year. They didn’t want it being associated with negative events like the black Monday stock market crash in 1987 or the Black Death of the 1300s. They worked really hard to turn it into something positive,” Clay continued.
“Now it’s all about the sales and discounts, right? They offer those doorbusters to get people in the door. Retailers know that if they can get customers excited about big discounts, they’ll not only sell a lot of products but also create a shopping experience that feels like a must-do event. It’s all about creating that buzz.”
“I wonder though, how some people feel about the ethics of it all?” continued Rachelle.”
“I’m sure some people may push back, but at the end of the day, it’s about profits. If you can create a shopping experience and make it a tradition, it’s just like Thanksgiving turkey and watching football. You’re gonna strike gold.”
“Yeah, that’s true. Well thanks Clay. Back to the H.R. grind!”
“Yep, see you Rachelle.”
As Clay said above, if you can craft the right message that resonates with consumers and it puts a positive spin on a negative, as a business owner, you can strike gold.
