The Joseph Carlson Show
Episode 359 - Everyone Was Wrong About Black Friday
Nov 28, 2023
The hosts discuss the importance of embracing change in business. They challenge the perception that Black Friday was a failure by highlighting the success of online retailers like Amazon and Shopify. They discuss Amazon's sales performance and compare it to Shopify. They also criticize Elizabeth Warren's concerns about a sandwich shop monopoly.
20:05
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Quick takeaways
- Black Friday online sales reached $9.8 billion, impacting physical retail with extended deals and reduced urgency for in-store shopping.
- Amazon has surpassed UPS and FedEx to become the largest delivery business in the US, solidifying its dominance in the online retail industry.
Deep dives
Black Friday Shopping: Online Sales Outperforming Physical Retail
Black Friday shopping saw a 7.5% increase in online sales, reaching a total of $9.8 billion. Companies like Amazon and Shopify experienced record-breaking sales, with Amazon selling 1,000 items per second throughout the day. The rise of online sales has impacted physical retail, with extended deals and price protection reducing the urgency of in-store shopping. Anecdotal footage of empty stores does not paint the full picture of the successful Black Friday sales.
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