This year marked a new record in pre-holiday spending. From sneakers to cannabis, Boardroom goes behind the numbers of Cyber Week.
Failing to prepare is preparing to fail during the holiday season. Each year, shoppers cram a huge chunk of their holiday shopping into an annual retail event.
A quick historical scan reveals that Black Friday was first officially planted in the American vernacular in 1975 when it merited its first coverage in the New York Times. Since then, “the busiest shopping day of the year” has grown into a cultural phenomenon and gained a little competition along the way.
The rise of the internet not only eliminated the need to stand in long lines at the local box store, but it also extended the deals to span a full week. Since “Cyber Monday” first hit the calendar in 2005, the annual shopping event during which Americans can secure deals from the comfort of their own homes, retailers have filled in the gaps, turning it from a single day of mall mayhem to a weeklong bargain bonanza.
We break down some of the top trends and performances across the industries we’re most interested in at Boardroom.
It’s the Most Wonderful Week of the Year
This year, American shoppers set new records throughout the week, according to Salesforce.
- Thanksgiving: $7.5 billion (+1% year-over-year)
- Black Friday: $16.4 billion (+9% YoY)
- Cyber Monday: $12.4 billion (+3% YoY)
- Cyber Week Total: $70.8B (+5% YoY)
However, amidst all that shopping, one has to be in the right headspace. In the cannabis industry, Green Wednesday emerged as an antidote to the hustle and bustle of the week. In 2022, the date emerged as the second highest-grossing day in the industry’s calendar year, bringing in more than $116 million in sales. This year, Weedmaps reports that the site experienced a 42% bump in total order volume on Green Wednesday, as compared to the average Wednesday in November. Perhaps in an effort to keep things clandestine, Weedmaps reports an 81% increase in edibles purchases on Green Wednesday.
Additionally, Deloitte estimates that per-person spending will be the highest since the pre-pandemic, with an average expected holiday spending of $1,652.
Super Bowl LVII Rematch: Black Friday Edition
While Amazon may have cornered the NFL market on Black Friday, the numbers show that the big winners were last year’s Super Bowl teams: the Kansas City Chiefs and Philadelphia Eagles. Travis Kelce, Jason Kelce, and Jalen Hurts took over four of the five top jersey sales slots.
- Jason Kelce, Home Green Eagles Jersey
- Jalen Hurts, Kelly Green Eagles Jersey
- Jalen Hurts, Home Green Eagles Jersey
- Travis Kelce, Red Chiefs Jersey
- Brock Purdy, Scarlet Jersey 49ers Jersey
Jason Kelce Home Green Eagles Jersey Jalen Hurts Kelly Green Eagles Jersey Jalen Hurts Home Green Eagles Jersey Travis Kelce Red Chiefs Jersey Brock Purdy Scarlet Jersey 49ers Jersey
The elder Kelce brother rode his People’s Sexiest Man of the Year consideration to the top spot, even amidst his younger brother’s high-profile romance with Taylor Swift. However, in the aggregate, it’s probably safe to say the Eagles QB outpaced them both, taking the No. 2 and 3 slots.
Whether shopping for your favorites or getting yourself a little treat, we hope you found the deals of your dreams this Cyber Week!
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