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Black Friday & Cyber Monday vs The Supply Chain Crisis

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With the holiday season among us, the decision between shopping in store or online is crucial to getting your gifts on time

According to the National Retail Federation, an estimated 158.3 million people plan to shop this weekend, which is 2 million more than 2020. 

This also comes with an expected spending total of $28.1 billion, the highest since 2018. 

National Retail Federation President and CEO, Matthew Shay says, “We’re expecting another record-breaking holiday season this year and Thanksgiving weekend will play a major role as it always has,” 

What is Black Friday?

Black Friday is the day for the world to get their hands on the biggest bargains in preparation for the holiday season.

It dates back to the 1960s in Philadelphia when police would complain about the congested streets as people hunted for the best deals for their Christmas shopping.

The term refers to when stores would move from the ‘red’ to the ‘black’ in their accounting records, red indicating a loss and black indicating a profit.

The major shopping event is typically on the Friday after Thanksgiving, meaning that this year it will fall on November 26th.

And if you think you’re reading this too late, not to worry! Retailers are opting to extend their deals, which brings us to Cyber Monday. 

What is Cyber Monday?

Unlike Black Friday which takes place both in store and online, Cyber Monday falls on the Monday after Thanksgiving, meaning this year it will be on November 29.

As indicated in the name, Cyber Monday is an online event, which according to BlackFriday.com was when most shoppers planned to do their shopping last year.

National Retail Association CEO, Dominique Lamb says “Cyber Monday also continues to grow in leaps and bounds. The pandemic has accelerated the growing trend towards online shopping, which provides consumers with great convenience.”

“We really encourage Aussies to get their online purchases done and dusted on Cyber Monday. Not only will that secure them great deals, but with the delivery system under strain consumers shouldn’t be waiting until the last minute to make online Christmas purchases,” she said.

In Store vs Online

According to the National Retail Federation, 2020 was a record year for online shopping as the number of shoppers passed the 100 million mark which was up 8% from 2019.

This is likely to increase as the world becomes more and more accustomed to doing tasks from the comfort of their own home. 

But making the effort to get out of your pyjamas to go shop in store may be the way to go this holiday season, as the supply chain crisis continues.

As retailers struggle to retrieve their merchandise due to congested shipping ports, the shortage of workers needed to make, unload, and transport products, and thus the strained manufacturers and distributors, getting your Christmas shopping on time may not be possible.

According to FedEx, the Covid-19 pandemic has created record breaking shipment volumes as people choose to avoid the crowds and stay in their pjs, causing major delays. 

These delays will likely be amplified by Black Friday and Cyber Monday sales, which FedEx expects to be the biggest single shopping days of the year.

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Money

Tesla shareholders approve historic $56B Elon Musk pay package

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Tesla shareholders have voted to approve Elon Musk’s unprecedented $56 billion compensation package, underscoring their confidence in his leadership and vision for the electric car company.

The package, which is tied to ambitious performance targets, includes a mix of stock options and bonuses contingent upon Tesla’s financial and operational milestones over the next decade.

As reported by Reuters, the approval underscores the support that Musk enjoys from Tesla’s retail investor base, many of whom are vocal fans of the mercurial billionaire.

The proposal passed despite opposition from some large institutional investors and proxy firms.

#featured

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Money

Rich listers secret’s: how billionaires build their wealth

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Australian billionaires, including Gina Rinehart, have built their wealth by investing in valuable, income-generating assets.

For the average person looking to build their wealth, one possible option could be to buy quality assets like stocks when the market dips.

Mark Wyld from MW Wealth joins to discuss. #featured #trending #wyld money

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Buyer’s agent unveils key to building wealth through property

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Unveiling the strategies for game-changing wealth building through property.

Wyld Money dives into the world of financial freedom. Whether you’re a seasoned investor or just getting started, join us for actionable tips and tricks to unlock your earning potential, and retire on your own terms.

In this episode, Mark is joined by Buyers Agent, Jack Henderson from Henderson Advocates. #trending #wyld money

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