Morning Wire Record Black Friday, Biden Eases Venezuela Sanctions & Disney Box Office Struggles | 11.28.22
Nov 28, 2022
Black Friday saw surprising record sales, defying economic forecasts and shifting consumer behaviors. Meanwhile, the Biden administration has eased sanctions on Venezuela, allowing Chevron to restart oil production, prompting debate over its implications. Disney's latest release, 'Strange World,' struggled at the box office, raising questions about its future animated projects and facing backlash over LGBTQ themes. The podcast delves into these pressing issues, reflecting on their broader impacts on the economy and entertainment landscape.
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Record Black Friday Sales
- Despite inflation, Black Friday sales hit record highs, exceeding economists' projections.
- Online sales alone topped $9.3 billion, marking an all-time high.
Inflation's Impact on Shopping
- Inflation impacted holiday shopping through increased use of buy now, pay later plans and credit cards.
- This signals lower savings and potential financial strain due to high interest rates and credit card debt.
Shift to Online Shopping
- Online shopping, especially on mobile devices, continues to rise, impacting in-person store traffic.
- This shift is partly due to consumer preference and businesses offering better online deals.