If you’re like the rest of the world’s population, you probably took advantage of Black Friday in some way this past week – if even to just oogle at things you shouldn’t buy.
Since Black Friday (and subsequent Cyber Monday) tends to be a collection of ads that really just flash a percentage at you, we definitely didn’t spend our time on that creative.
That said, we did spend our time learning about consumers, their changing habits and brand developments as sales soared.
At the end of the madness, three headlines stood out to us.
Black Friday is what captured our minutes this week.
Here are the headlines:
1. Amazon’s founder and CEO Jeff Bezos became the world’s only $100 billionaire.
According to Quartz, Amazon saw Black Friday sales that were 18.4% higher than last year’s. This, combined with high discounts on Amazon’s own tech products along with several other devices made Bezos “the first person to build a 12-figure net worth since 1999” when Bill Gates reached that ranking.
Why this matters: Not only are we getting scarily close to the possibility of the world’s first possible trillionaire, but this is showing huge strides for the Amazon brand.
This whole past year has been about Amazon changing up the retail brand, from opening its first NYC brick and mortar store to acquiring Whole Foods. Amazon is on a fast and furious upward trajectory. Now that they’ve got this momentum, it’ll be important to watch for how they hold the details together.
Is company culture getting put on the back burner to push forward? Are promises being fulfilled? Are products delivering? All valid things to key in mind.
2. People weren’t heading to stores. They were heading online.
Shopify reported that at peak timing during Black Friday, more than $1 million in sales were going through its system globally per minute.
CNN also went on to report that American shoppers spent “a record $5 billion in 24 hours” on digital sales. In fact, foot traffic in major big-box retailers dipped on average by 1%.
Why this matters: Clearly the in-store experience isn’t cutting it anymore. Come on – how can retailers beat out the comfort of ordering from the couch? That’s a question that brands and their marketing teams alike will have to answer for in upcoming months. While malls were by no means empty, it’s important now to address what different offering stores are providing over online so that both options can be given to consumers each with their own set of unique pros.
3. Gun background checks in the US hit a new record. (Yikes).
According to the BBC, the FBI received over 200,000 requests for background checks for gun purchases on Black Friday – 10% more than last year.
Of course, the FBI clarified that this number doesn’t necessarily mean the exact same amount of actual guns were purchased. However, this comes at a time when gun control in the US continues to be top of mind after several violent incidents and the differing opinion from the Obama to Trump administration.
Why this matters: This development is an indicator of the gun industry changing. Historically speaking, gun sales usually change when it becomes a repeated topic for lawmakers. The so-called “branded image” of guns is a fraught one – there’s been a huge upsurge in the public movement to revisit gun control as well as those talking about protecting a “constitutional right.” Though some will characterize this as an American issue, being so close to our neighbours to the south Canada will feel the movement of this discussion.
Of course, there were several other developments as Friday became Cyber Monday. If you have anything to add to our top 3 headlines, let us know @TheTiteReport.
Now it’s probably a good idea to get back to your credit card bills.
At the end of the day, people engage with content by lending their minutes. Content is successful when its battery is fully charged with attention.
What will win this week?
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