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Shopping Spree: Black Friday’s Projected To Rake In $59.6B

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The week of Thanksgiving has become one of the most anticipated shopping periods of the year, with analysts projecting up to $60B in sales today—Black Friday—alone.

While retailers slash product prices, they try to compete and outdo each other by offering the best Black Friday or Cyber Monday deals.

Consumers, on the other hand, are on the lookout for the best bargains available and are willing participants in this shopping spree.

This year’s Thanksgiving week will shatter records

According to Statista, Thanksgiving week was projected to hit record sales in the US.

Overall, Statista projected Thanksgiving day sales to rise close to 14% to $3.3B. Black Friday and Cyber Monday were expected to soar by 18%, with an overall estimate of $23.4B in total sales.

Turns out sales will eclipse that today.

“Black Friday is bigger than a 24-hour shopping sprint or even a week-long marathon,” Accenture Strategy’s Frank Layo told Business Insider this morning. “It’s turned into a month-long extravaganza which started with promotions just after Halloween, and will continue well after Cyber Monday.”

Peak holiday season

While the holiday season in the United States begins in late October, it peaks during the second half of November. We can see above when US consumers expect to do holiday shopping is the highest in late  November at 72%. This time coincides with Thanksgiving week.

According to Deloitte’s report, holiday shoppers will spend an average of $1,536 in the holiday season of 2018 with gifts accounting for $525 of the total amount spent.

In the Thanksgiving week of 2017, shares of Amazon [AMZN] touched a then all-time high of $1,195.83 and propelled CEO Jeff Bezos’ net worth into the untouched $100B dollar territory.

It will be interesting to see if Amazon shares recover following record sales. The stock has been pummeled in the recent past and has lost over 24% in market value since October 2018.

Total holiday spending might cross $124B this season

According to market research firm ADI, consumers might spend a whopping $124B this holiday season, up from $108.2B last year. Taylor Schreiner, principal analyst at ADI stated, “This consistent growth is itself a surprise. To have a $100B industry continue to grow in double digits is unusual and impressive.”

This holiday season is set to be a blockbuster one for online and physical retailers. Watch this space as we will shortly analyze the impact of strong holiday sales on the stock prices of retail companies.

Money

3 Ways To Invest From Your Smartphone For Under $5

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The numbers say 80% of millennials don’t invest in stocks.

Reason? Half say they don’t have money, one-third says it’s too early and another third says they don’t know how.

In addition to that, there’s demographic gap. “The average age of a financial advisor is 55,” said Douglas Boneparth, a New York City-based financial planner. “There are more financial advisors over the age of 70 than there are under 30.”

Despite these beliefs, you don’t really need much money, nor experience, to get started. (Just look at our fearless co-founder Odunayo Eweniyi and what she’s pulled off here)

Be that as it may, here are three ways to get started for $5 or less.

1. Stash

Image result for stash app

What: A micro-investment app (iOS and Android) with over 30 ETFs according to industry, sector and risk tolerance.

How it works: Download the app and choose your investment.

Minimum investment: $5

Cost: Fees range from $1 a month for accounts under $5,000 to 0.25% a year.

“We help people who don’t have a lot save money on a weekly basis,” CEO and co-founder Brandon Krieg said in one interview. “Stashers look like America, they look like people you meet every day: they are nurses and teachers and Uber and Lyft drivers.”

2. Acorns

 

What: iOS and Android app.

How it works: Download the app and choose one of six index funds. When you buy, say a cup of coffee for $1.75, it rounds up the change to $2 and deposits the difference.

Minimum investment: $5

Cost: Just like Stash, fees range from $1 a month for accounts under $5,000 to 0.25% a year.

“We’re not trying to preach austerity to the client, because that’s a bummer,” CMO Manning Field says. “Some people will say, ‘Don’t have the cup of coffee.’ We’ll tell you to have the cup of coffee and invest along the way.”

3. Robinhood

What: A commission-free investment app (iOS and Android).

How it works: Download and start buying stocks.

Minimum investment: Whatever stock you want to buy.

Cost: Free.

And by the way, if you want to get a fast start on real estate, here’s Forbes’ list of nine REITs with yields between 8% and 10%.

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Money

CHART: How Blockchain Powers Bitcoin

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Blockchain, Bitcoin. Bitcoin, blockchain.

The two terms go hand in hand—and have become almost ubiquitous with this year’s insane rise (and fall) of Bitcoin.

But what does it all really mean? How does it come together? In this week’s chart, our friends at CB Insights break down exactly how blockchain powers Bitcoin.

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VIDEO: Shark Tank’s Mr. Wonderful Demonstrates Compound Interest

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How young should your children be when you start teaching them about money? How should I teach my children about money?

The key to children and money is explaining what it is to them early in life. Shark Tank’s Mr. Wonderful, Kevin O’Leary, answers all these questions with this tip on explaining compound interest to your kids.

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