Ep. 114 - Billions Spent from the Dinner Table | Black Friday Analysis
Have you ever wondered just how much money Americans spend during Black Friday? This year topped all expectations, raking in billions of dollars in online sales over Thanksgiving weekend. So what drove these astronomical numbers in our current economic climate of high inflation and recession worries? Quinton analyzes the data and statistics behind the holiday shopping frenzy. He explores factors like the rise of buy now, pay later financing, savvy shopper tactics, and the explosive growth in social commerce sales. With younger generations making the majority of purchases directly through social platforms, should we be concerned about data privacy?
[00:00 - 02:13] - Opening Segment
[02:14 - 03:13] - $5.6 Billion in Online Sales on Thanksgiving
[03:14 - 04:08] - $9.8 Billion in Black Friday Online Sales
[04:09 - 05:37] - High BNPL Usage Raises Concerns About Consumer Debt
[05:38 - 06:47] - Expected $12 Billion in Cyber Monday Sales
[06:48 - 07:37] - Amazon Utilizes QR Codes in NFL Black Friday Game
[07:38 - 08:49] - Pre-Black Friday Extend Buying Window
[08:49 - 12:45] - Explosive Growth Expected in Social Commerce
[12:46 - 14:36] - Closing Segment
Key Quote:
"By 2025, $80 billion worth of sales, on products alone, will be done through a social commerce platform." - Quinton Harris
Resources: Social Commerce Growth Chart: https://bit.ly/socialcommercechart
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