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.
I was looking around Google for an old article on tax strategies and this five-year old video of myself happened to pop up.
I’m interviewing a tax expert about how real estate investors avoid paying taxesin perpetuity—AND how everyday citizens can do the same thing.
(Real estate—our TEMPLE I and TEMPLE II projects included—has a number of tax benefits savvy investors have capitalized on for years, including Opportunity Zone breaks and 10-year tax abatements.)
There’s the 1031 exchange, of course, which I’ve shared with you guys before.
Just to refresh your memory, the 1031 Exchange allows you to roll over gains from your last project into a new property TAX FREE—as long as said property is worth the same or more.
But there’s ANOTHER TAX LOOPHOLE that can take your portfolio to an entirely new level by splitting your capital gains into MULTIPLE properties.
PS: In our next update, I’m going to break down how real estate moguls get paid from their properties…tax free. 👀 PPS: If you want to learn how to implement generational wealth strategies like this one, you can join our NYCE wealth academy (TRIBE U) here.
If there’s anything the pandemic taught us, it’s that the paradigm of “office” and “workspace” has been shaken to its CORE.
Universities are teaching via Zoom, court dates are done virtually, FULLY REMOTE businesses are valued at $1B+, and legitimate Inc. 5000 startups are run from…wherever. 📲
This is my office for the day…
I am actually running our business from the beach, typing this from here.
It’s 4:28 pm CET, which means it’s 10:28 am EST and I am CRUSHING my to-do list.
(And the team will continue to crush it while I’m asleep. That’s the 🗝)
Having team members in all the main time zones gives us a 24-hour work cycle vs. 9-5/eight-hour on-the-clock performance.
This means we get 3x the productivity of a similar company. 🔥
Let me repeat that…3x PRODUCTIVITY vs. our competitors.
Meanwhile our project management software grants us 24-hour TEAM-WIDE connectivity that tracks all tasks and lets us know if productivity dips even a little bit.
There is ALWAYS someone senior awake. It could be Martin in Barcelona…Nat in New York…Vineet & Arif in New Delhi.
Well, the first step is to have an actual side hustle you’re launching. Not just an idea, a validated business.
MAJOR KEY: Do NOT spend money until you’ve made your FIRST DOLLAR! 🗝🗝🗝🗝
(You can catch a replay Business Launch masterclass here and see TRIBE member Nessa launched her business on the spot and got her first $45K client shortly after.)
One of the easiest ways to start is with Airbnb—you can start that in 10 minutes. Literally. (Here’s a guide if you need it.)
Once you have your business, you build a virtual infrastructure (you really just need two softwares, which are FREE), manage the team accordingly and run the business from there.
I’m gonna put together a step-by-step video breakdown this weekend inside the new TRIBE U on the FIVE key things you need to do this for YOURSELF. 💵 💎
From what software to use, how to build a team, how to keep.
In the meantime, drop a comment if you’re ready to build some wealth and any questions if you want more…
Let’s get to work. 🙌
PS: If you can’t be bothered with video and just wanna get to work, we’re hosting a TRIBE U workshopthat will help you get this process started on the spot. It’s $479 $49. 🔥
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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