Morning Brew Daily The Summer of Spending Thanks to Taylor Swift, Beyonce & Barbenheimer
Sep 4, 2023
This podcast dives into how Taylor Swift, Beyoncé, and the blockbuster success of 'Barbie' and 'Oppenheimer' shaped summer spending. The hosts explore the economy's surprising resilience amid cultural events and extreme weather. They share laughs over quirky predictions, significant stock performances, and humorous reflections on their past mistakes. From the revival of the IPO market to creative Halloween costume ideas inspired by pop culture, listeners are treated to a blend of insightful analysis and enjoyable banter.
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Experiential Spending
- The 2023 summer marked a shift back to experiential spending after the pandemic.
- Americans prioritized concerts, movies, and events over physical goods, impacting retail.
Women as Economic Force
- Women drove the economic activity of Summer 2023, demonstrating significant purchasing power.
- This influence was evident in the success of events like the Taylor Swift and Beyoncé concerts and the Barbie movie.
Group Spending
- Over 80% of Taylor Swift and Beyoncé concertgoers bought multiple tickets, amplifying the economic impact.
- This spending translated into real GDP growth, potentially contributing to the avoidance of a predicted recession.
