Black Friday: Online shopping riding high
Wall Street Breakfast
Seeking Alpha
4.1 • 1K Ratings
🗓️ 29 November 2024
⏱️ 7 minutes
🧾️ Download transcript
Summary
Show Notes
Disney's 'Moana 2' bashing Thanksgiving records
3 “winners” vs. “losers” within consumer discretionary stocks
Episode transcripts: seekingalpha.com/wsb
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Transcript
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| 0:00.0 | Welcome to Seeking Alpha's Wall Street Lunch, our afternoon update on today's market action, news, and analysis. |
| 0:09.0 | Hello, today is November 29th, and I'm your host, Kim Khan with a special Black Friday edition of Wall Street Lunch. |
| 0:17.0 | Our top story so far. Holiday spending to this point is reaching record levels as buyers shrug off |
| 0:22.1 | diminished buying power and stagnant incomes. Around $6.1 billion was spent online on Thanksgiving Day. |
| 0:28.4 | According to the latest data compiled by Adobe Analytics, online spending was up 8.8% from last year, |
| 0:34.5 | driven by deep discounts on toys, electronics, apparel, appliances, sporting goods, |
| 0:39.3 | and furniture. In just the past week, discounts on toys accelerated to 27.2% by November 28th, and increased |
| 0:46.9 | 26.5% for electronics. Lead analyst Vivek Pandya says, as people gathered with family and friends, |
| 0:54.0 | many were hitting the |
| 0:54.6 | buy button on their mobile devices, which hit an all-time high for the overall holiday season. |
| 0:59.7 | For the 28 days since the beginning of the month, consumers have shelled out 96.5 billion online. |
| 1:05.8 | Top sellers were stuffed animals and board games, Harry Potter-related toys, Tony AutoPlay figurines, Fisher |
| 1:12.3 | Price Little People, Minecraft toys, and the X-shot Insanity Foamed Dart toy. Popular video games |
| 1:18.9 | included Legend of Zelda Breath of the Wild, Super Mario Odyssey, and EA football games |
| 1:24.2 | like Madden 2025 and college football. Looking to the box office, while it's still early in the U.S. holiday weekend, Disney's key |
| 1:31.7 | animated sequel, Momana 2, is setting sale for the box office record books. |
| 1:36.4 | The movie impressed with $57.5 million in domestic grosses on Wednesday, after a preview |
| 1:41.6 | total of $13.8 million, and added $28 million on Thursday, marking the biggest Thanksgiving of 13.8 million and added 28 million on Thursday, |
| 1:45.4 | marking the biggest Thanksgiving ever for a film. This warning, Disney said the film had |
| 1:49.7 | taken in $109.6 million on a global basis through Thursday. It's tracking to some |
| 1:55.5 | 175 million plus in domestic box office over the five-day holiday weekend, with Disney staying on a conservative |
| 2:02.1 | side, but rival studios expecting it could hit 200 million. That's easily on pace to become the |
... |
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