It is the annual American turkey holiday
when people give thanks, eat too much and stretch their credit cards to the max in a virtual shopping frenzy.
Thanksgiving ain't what it used to be.
As Stompin’ Tom Connors sang in the song The Consumer,
“We save a lot of money spending money we don’t got”
Is it a frenzy?
Are the tales of people turning off Facebook, closing YouTube’s ever growing supply of cat videos and kicking their kids off of Wi-Fi just to ensure adequate bandwidth for shopping, true?
One thing is sure, billions of dollars will be spent this Black Friday/Cyber Monday weekend.
$5 billion in minutes
On November 11th a single online retailer in China sold $5 billion in the opening minutes of the Chinese cyber event known as Singles Day or 11.11. I guess things slowed down as they only sold a total of $25.3 billion, doubling 2016 Black Friday and Cyber Monday sales combined.
Here is a link to an interesting article "Why (and How to) Support Small Businesses this Holiday Season" and the benefits of supporting local businesses. (Full disclosure: we are an online business. Fuller disclosure: we also sell on Amazon)
It has been estimated that Amazon is on track to have revenues of $176 billion dollars this year.