Black Friday is known as the unofficial kickoff to holiday shopping, a day when consumers line up at dawn for steep discounts and retailers bank on record-breaking sales.
Not What You Think: Why It’s Really Called “Black Friday”
Many believe the term refers to retailers being in the “black” (i.e., becoming profitable) after a year in the “red.” While that explanation is widely used in marketing today, it wasn’t how the name started.
The phrase Black Friday was first coined by police officers in Philadelphia in the 1950s and 60s, who dreaded the day because of the overwhelming traffic, crashes, shoplifting, and disorder caused by crowds flooding the city for post-Thanksgiving shopping and the annual Army-Navy football game. Officers reportedly hated working it, calling it “Black Friday” due to the chaos, not profits.
Shopping by the Millions (Per Minute)
Fast-forward to today, and the frenzy has only escalated:
- In 2024, Americans spent $10.8 billion online in just one day.
- During peak hours, spending reached an estimated $11.3 million per minute.
- Globally, Black Friday racked up $74.4 billion in 24 hours.
In-store traffic has declined, down more than 8% in recent years, as more consumers opt to shop from the couch. But that doesn’t mean things are any calmer.
When Deals Turn Dangerous
Crowds and limited inventory can lead to extreme behavior. Since modern tracking began in 2006, Black Friday has been linked to:
- 17 reported deaths
- Over 125 injuries
- Incidents ranging from fistfights over game consoles to stampedes at store openings.
One Utah mall was once swarmed by 15,000 shoppers, and a Virginia electronics store saw physical altercations over line-cutting.
Retail Royalty: Cards of the Ultra-Wealthy
While average shoppers chase clearance deals, some buyers flash credit cards that cost more than most people’s holiday budgets.
- American Express Centurion Card (“Black Card”)
- Invite-only, rumored requirement: over $350,000 in annual Amex spending
- $10,000 initiation + $5,000 annual fee
- Comes with elite perks: global concierge, first-class upgrades, private access to events.
- J.P. Morgan Reserve Card
- By invitation only for elite clients with over $10 million in assets with the bank
- Made with brass and palladium, weighing five times more than a standard plastic card
- Annual fee: $795
Even “mainstream luxury cards” like the Amex Platinum now charge $895 annually, offering travel credits and exclusive services.
Not Everyone Buys In
Black Friday also has its critics. Buy Nothing Day, launched in the early 1990s, is an unofficial protest against excessive consumerism and takes place on the same day. Advocates encourage reflection and restraint instead of swiping plastic.
Whether you’re shopping for the hottest holiday deals or simply watching the spectacle unfold, good luck and stay safe out there.
