The holiday shopping season is about to reach full speed with Black Friday, which kicks off the post-Thanksgiving retail rush later this week. The annual sales event no longer creates the midnight mall crowds or doorbuster mayhem of recent decades, in large part due to the ease of online shopping and habits forged during the COVID-19 pandemic. Hoping to entice equivocating consumers, retailers already have spent weeks bombarding customers with ads and early offers. Still, whether visiting stores or clicking on countless emails promising huge savings, tens of millions of U.S. shoppers are expected to spend money on Black Friday itself this year. Industry forecasts estimate that 183.4 million people will shop in U.S. stores and online between Thanksgiving and Cyber Monday, according to the National Retail Federation and consumer research firm Prosper Insights & Analytics. Of that number, 131.7 million are expected to shop on Black Friday. At the same time, earlier and earlier Black Friday-like promotions, as well as the growing strength of other shopping events (hello Cyber Monday), continue to change the holiday spending landscape. Here’s what you need to know about Black Friday’s history and where things stand in 2024. When is Black Friday in 2024? Black Friday falls on the Friday after Thanksgiving each year, or Nov. 29 this year. How old is Black Friday? Where does its name come from? The term “Black Friday” is several generations old, but it wasn’t always associated with the holiday retail frenzy that we know today. The gold market crash of September 1869, for example, was notably dubbed Black Friday. The phrase’s use in relation to shopping the day after Thanksgiving, however, is most often traced to Philadelphia in the mid-20th century — when police and other city workers had to deal with large crowds that congregated before the annual Army-Navy football game and to take advantage of seasonal sales. “That’s why the bus drivers and cab drivers call today ‘Black Friday.’ They think in terms of headaches it gives them,” a Gimbels department store sales manager told The Associated Press in 1975, while watching a police officer try to control jaywalkers the day after Thanksgiving. Earlier references date back to the 1950s and 1960s. Jie Zhang, a professor of marketing at the University of Maryland’s Robert H. Smith School of Business, points to a 1951 mention of “Black Friday” in a New-York based trade publication — which noted that many workers simply called in sick the day after Thanksgiving in hopes of having a long holiday weekend. Starting in the 1980s, national retailers began claiming that Black Friday represented when they went from operating in the red to in the black thanks to holiday demand. But since many retail companies now operate in the black at various times of the year, this interpretation should be taken with a grain of salt, experts say. How has Black Friday evolved? In recent decades, Black Friday became infamous for floods of people in jam-packed stores. Endless lines of shoppers camped out at midnight in hopes of scoring deep discounts. But online shopping has made it possible to make most, if not all, holiday purchases without ever stepping foot inside a store. And while foot traffic at malls and other shopping areas has bounced back since the start of the pandemic, e-commerce isn’t going away. November sales at brick and mortar stores peaked more […]