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From the Black Friday shopping frenzy to an intriguing jump in Bitcoin's value, our in-house nudge writer Giorgia Rose shares her roundup of global financial trends from November 2023.
Black Friday buzz
Black Friday has become a shopping mainstay in recent times and almost three quarters (74%) of global consumers expressed intent to take advantage of the November sales events: Black Friday, Cyber Monday, Singles' Day, and El Buen Fin.
Boston Consulting Group’s 2023 Black Friday global consumer survey found that U.S. consumers planned to spend the most ($460), followed by Switzerland ($390), and Germany ($385).
The analysis also said that global inflation trends meant consumers were turning to November sales events to cover their basic needs rather than for high-end items.
Whether you’re looking for bargains or holiday gifts, nudge can show you how to tell when a sale price is genuinely a good deal.
Seasonal price spikes
Speaking of seasonal spending, as the holiday season approaches, you may see prices of popular products rise as retailers take advantage of high demand.
This is a strategy known as dynamic pricing, where e-commerce stores use algorithms to vary their prices for products, such as airline or concert tickets, based on the demand at any given time.
So if you’ve noticed you’re paying more for certain goods and services over the holiday period, it’s because demand for them is high at this time of year.
Many avoid surprise price hikes by shopping in advance and at low-demand times, as well as clearing their browser history when researching products online. This is because websites will remember what shoppers are looking for and may raise their prices.
nudge can teach you more about shopping smart ahead of the festive season.
Bitcoin price at 18-month high
The end of November saw crypto investors also giving some festive cheer to the asset class with Bitcoin peaking at $37,715, its highest value in 18 months, and the upward trend is continuing into December, too.
The price jump was driven by speculation that a bitcoin exchange-traded fund (ETF) is imminent. If the U.S. Securities and Exchange Commission approves an ETF that owns bitcoin on behalf of fund investors by the 10 January 2024 deadline, demand may rocket further.
If you’re interested in investing in cryptocurrency, nudge tells you the risks involved with volatile assets.
Next up we'll be rounding up the biggest money trends from the full year - so stay tuned for 2023's most influential global money trends that have impacted your people's back pocket.
Interested to know more about nudge's global financial education get in touch and find out how to get your people full access to nudge.
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