Morning Brew Daily Black Friday Hits $11B in Sales & Australia Bans Social Media for Kids Under 16
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Dec 2, 2024 Black Friday saw a staggering $10.8 billion in online sales, showcasing shifting consumer habits. Australia made headlines as the first nation to ban social media for kids under 16, raising significant concerns about enforcement. Meanwhile, Trump's warning to BRICS nations signals a tension in global economics. Coffee prices soar due to weather impacts, and a bizarre twist in the art world involves a $6.2 million banana being eaten. Lastly, the stock market rebounds, and 'Moana 2' enjoys a successful weekend at the box office.
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Foot Traffic vs. Online Sales
- Despite increased online sales, in-store Black Friday foot traffic decreased by 3.2% year over year.
- Bad weather in the Midwest and Northeast likely contributed to this decline.
Record Black Friday Sales
- Black Friday online shopping hit a new all-time high of nearly $11 billion, exceeding Thanksgiving Day's $6 billion.
- Popular items included jewelry, appliances, toys, apparel, and electronics, with online sales up 15% overall.
Australia's Social Media Ban
- Australia is the first country to ban social media for children under 16, placing enforcement responsibility on platforms.
- This bold move aims to protect kids online, but critics worry about its effectiveness and potential negative consequences.