Black Friday: From Historical Chaos to Modern Shopping Strategies

Black Friday has transformed from a term denoting financial turmoil to a cornerstone of American consumer culture.

 

For high school students eager to snag the best deals, understanding its history and adopting innovative shopping strategies is essential.

 

The Evolution of Black Friday

 

Originally, "Black Friday" described the 1869 financial panic caused by speculators Jay Gould and Jim Fisk manipulating gold prices, leading to a market crash.

 

In the 1960s, Philadelphia police used the term to depict the post-Thanksgiving shopping chaos, as suburban crowds flooded the city, causing traffic jams and increased shoplifting.

 

By the 1980s, retailers rebranded Black Friday, suggesting it was the day businesses turned profitable, moving from "in the red" to "in the black." This marketing spin solidified its association with shopping.

 

Modern Black Friday Trends

 

In recent years, Black Friday has evolved significantly:

 

Extended Sales Periods: Retailers now launch promotions well before Thanksgiving, turning Black Friday into a month-long event.

 

Online Shopping Surge: In 2024, U.S. online sales hit a record $10.8 billion on Black Friday, a 10.2% increase from the previous year.

 

Mobile Dominance: Mobile devices accounted for 69% of purchases worldwide during Black Friday 2024, highlighting the shift towards on-the-go shopping.

 

Buy Now, Pay Later (BNPL): Flexible payment options like BNPL saw an 8.8% rise in usage, making high-ticket items more accessible to budget-conscious shoppers.

 

Smart Shopping Strategies for High Schoolers

 

To navigate Black Friday effectively, consider the following:

 

Create a Shopping List: Identify desired items and set a budget to avoid impulse purchases.

 

Research Prices: Use price-tracking tools to ensure discounts are genuine and not inflated.

 

Compare Retailers: Check multiple stores to find the best deals on desired products.

 

Utilize Loyalty Programs: Sign up for retailer loyalty programs to access exclusive deals and early promotions.

 

Be Cautious with BNPL: While BNPL offers flexibility, ensure you can manage the installment payments to avoid debt.

 

Focus on High-Discount Items: Electronics, small appliances, and apparel often have significant discounts during Black Friday.

 

Stay Informed: Follow retailers on social media and subscribe to newsletters for real-time updates on deals and promotions.

 

By understanding the history and current trends of Black Friday, high school students can make informed decisions, ensuring a rewarding and financially responsible shopping experience.