Bloomberg Businessweek
Strong Black Friday Online Spending Bodes Well for Season
Nov 27, 2023
Bloomberg Intelligence explores Black Friday data and Cyber Monday outlook, while discussing 'buy now, pay later' services. The cease-fire in Israel-Hamas conflict is analyzed by Senior Fellow at the Atlantic Council's Eurasia Center. Investing in diverse tech startups is discussed by Unconventional Ventures' Co-Founder. Drive to the Close with Chief Investment Officer at Frost Investment Advisors.
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Quick takeaways
- Despite negative sentiment, consumers are still spending, possibly due to increased discounting and buy now, pay later options, raising concerns about increased borrowing and potential weakening of employment.
- Limited progress in funding diverse founders raises concerns about the ongoing barriers faced by female entrepreneurs, with funding for female teams ranging from as low as 0.9% in Northern Europe to around 2% globally.
Deep dives
Consumer income is falling, leading to growing gloominess
Consumer income has been decreasing, leading to concerns about consumer spending and overall gloominess. The saving rate has fallen, credit card balances have increased, and consumers are leveraging more. Despite negative sentiment, consumers are still spending, possibly due to increased discounting and the use of buy now, pay later options. However, this increased borrowing and potential weakening of employment is worrisome for the outlook of consumer spending.
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