Black Friday tradition has caught on like a bug among retailers and shopping merchants who take advantage of the buzz to gain customers and boost sales, especially around the November thanksgiving period, Nigerian retailers don’t seem left out in the frenzy either.
We will like to examine the dark and sour conspiracy theories around the tradition, fair to day that the United States takes the lead on this one.
The first recorded use of the term “Black Friday” was applied not to holiday shopping but to financial crisis: specifically, the crash of the U.S. gold market on September 24, 1869. Two notoriously ruthless Wall Street financiers, Jay Gould and Jim Fisk, worked together to buy up as much as they could of the nation’s gold, hoping to drive the price sky-high and sell it for astonishing profits.
On that Friday in September, the conspiracy finally unraveled, sending the stock market into free-fall and bankrupting everyone from Wall Street barons to farmers.
In recent years, another myth has surfaced that gives a particularly ugly twist to the tradition, claiming that back in the 1800s Southern plantation owners could buy slaves at a discount on the day after Thanksgiving. Though this version of Black Friday’s roots has understandably led some to call for a boycott of the retail holiday, it has no basis in fact.
Black Friday True Story
The true story behind Black Friday, however, is not as sunny as retailers might have you believe. Back in the 1950s, police in the city of Philadelphia used the term to describe the chaos that ensued on the day after Thanksgiving,
When hordes of suburban shoppers and tourists flooded into the city in advance of the big Army-Navy football game held on that Saturday every year.
Shoplifters would also take advantage of the bedlam in stores to make off with merchandise, adding to the law enforcement headache.
Now you see why the bedlam looks the way it does.
Article researched and written by Obaro