money & economicsWikipedia1939 · United States

Black Friday exists because a 1939 presidential proclamation moved Thanksgiving a week earlier

the gist

Black Friday grew out of a fight over the length of the Christmas shopping season. In 1939 President Franklin D. Roosevelt proclaimed Thanksgiving to be the fourth Thursday in November rather than the last, which in some years moved it a week earlier and gave stores more selling days. Most people went along, though many kept the traditional date. Retailers then pushed their openings earlier and earlier, reaching Thanksgiving evening with 'Black Thursday' sales in 2011. In 2014 those sales fell short, with holiday-week sales down 11% year on year, and many chains went back to closing on Thanksgiving. In 2015 Amazon started 'Black Friday in July' with Prime Day, and online shopping has steadily taken over the sales.

how it works

Retailers wanted a longer gap between Thanksgiving and Christmas to sell gifts, but no single store wanted to start advertising before the holiday. A government-set date broke that deadlock. Once stores could open earlier, each chain had to match its rivals, which pushed openings toward midnight and then onto Thanksgiving itself.

so what

The shopping holiday we know is a product of retail competition rather than tradition, and it shows how a small change in a calendar can reshape a whole economy. Its growth also tracks the move from stores to online shopping, which the pandemic accelerated sharply in 2020.

Adapted from Wikipedia, the free encyclopedia · CC BY-SA 4.0

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