The Indicator | December 6th, 2024

● This Black Friday many shoppers ditched the mall crowds and spent more money online than ever before. Shoppers spent a record $10.8 billion online on Friday, over 10% more than they did last Black Friday, according to data from Adobe Analytics. Cyber Monday outperformed expectations and remains the biggest online shopping day of all time with consumers spending $13.3B (equating to $15.8M spent every minute during peak hours). (NPR)

● TikTok tripled its US shopping sales to more than $100 million on Black Friday, a sign of the app’s growing popularity despite a looming ban. TikTok Shop also drew a 165 percent annual increase in shoppers for the two days between Black Friday and Cyber Monday, the company said. More than 7 billion posts included the hashtags #tiktokshopblackfriday or #tiktokshopcybermonday. (Business of Fashion)

● Fifty five percent of consumers said they have already discovered holiday gift ideas via TikTok, according to a November survey from marketing agency MGH. Sixty-nine percent of survey respondents said unboxing videos, customer review videos and user experiences with products were a significant factor in deciding whether to buy an item. (Retail Dive) 

● Halfdays (Ones-to-Watch 2024 brand) is opening its first store location in Denver, Colorado — a short drive from many of the country’s top slopes. Founded in 2020 by former Olympic skier Kiley McKinnon, Ariana Ferwerda and Karelle Golda, Halfdays launched with ski gear. Halfdays’ goal is to bridge performancewear with fashionable offerings. (Vogue Business)

● Simple Modern, known for its insulated water bottles, unveiled Trevi, a hydration brand that will operate as a sister subsidiary of Simple Modern’s parent company. Named after the Italian fountain, Trevi will launch with electrolyte packets in four flavors that claim to have three times the electrolytes of traditional sports drinks. (Modern Retail) 

● Dove is going deeper into body care with the launch of “face-grade” level body-care products like Cream Serums and a Targeted Serum Concentrate. The new products focus on improving the appearance of uneven skin tone, dark spots, elasticity and stretch marks by using derm-inspired ingredients including niacinamide, prebiotic glycerin and stearic acid. (Glossy) 

● The affordable luxury handbag category is growing at a faster rate than any other sector of the handbag market. According to the digital wholesale marketplace Joor, sales of handbags priced $250-$500 have grown from 63% of all handbag sales to 70% since 2021, making them the dominant price bracket in the category. Meanwhile, sales of bags over $1,000 have more than halved, from 7% of all handbag sales to 3%. (Glossy)