What is Black Friday during the Great Depression?
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Lucas Wilson
Works at the International Development Association, Lives in Washington, D.C., USA.
Hello, I'm an expert in historical economics and consumer culture. Let's delve into the concept of Black Friday during the Great Depression.
Black Friday, as we know it today, is a term that originated in the late 20th century to describe the day after Thanksgiving in the United States, which is one of the busiest shopping periods of the year. However, during the Great Depression, which lasted from 1929 to the late 1930s, the concept of Black Friday as we understand it today did not exist. The term "Black Friday" itself is believed to have been coined in the 1960s to describe the heavy pedestrian and vehicle traffic that occurred the day after Thanksgiving, which marked the start of the Christmas shopping season.
During the Great Depression, consumer spending and retail sales were significantly lower than they are today. The economic crisis led to widespread unemployment, poverty, and a general lack of consumer confidence. Retailers did not have the same level of aggressive marketing or the financial means to offer the deep discounts that are common during modern Black Friday sales. Additionally, the idea of a shopping holiday was not as ingrained in the culture as it is now.
It wasn't until the post-World War II era that consumer culture began to rebound, and with it, the concept of Black Friday as a significant shopping event started to take shape.
Black Friday, as we know it today, is a term that originated in the late 20th century to describe the day after Thanksgiving in the United States, which is one of the busiest shopping periods of the year. However, during the Great Depression, which lasted from 1929 to the late 1930s, the concept of Black Friday as we understand it today did not exist. The term "Black Friday" itself is believed to have been coined in the 1960s to describe the heavy pedestrian and vehicle traffic that occurred the day after Thanksgiving, which marked the start of the Christmas shopping season.
During the Great Depression, consumer spending and retail sales were significantly lower than they are today. The economic crisis led to widespread unemployment, poverty, and a general lack of consumer confidence. Retailers did not have the same level of aggressive marketing or the financial means to offer the deep discounts that are common during modern Black Friday sales. Additionally, the idea of a shopping holiday was not as ingrained in the culture as it is now.
It wasn't until the post-World War II era that consumer culture began to rebound, and with it, the concept of Black Friday as a significant shopping event started to take shape.
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Studied at the University of Barcelona, Lives in Barcelona, Spain.
Economic historians usually attribute the start of the Great Depression to the sudden devastating collapse of U.S. stock market prices on October 29, 1929, known as Black Tuesday. However, some dispute this conclusion and see the stock crash as a symptom, rather than a cause, of the Great Depression.
2023-04-08 17:55:30
Julian Butler
QuesHub.com delivers expert answers and knowledge to you.
Economic historians usually attribute the start of the Great Depression to the sudden devastating collapse of U.S. stock market prices on October 29, 1929, known as Black Tuesday. However, some dispute this conclusion and see the stock crash as a symptom, rather than a cause, of the Great Depression.
