🎁 Guess How Much The Average American Family Spends On The Holidays?

Welcome to our quick hits irl Media NEWSLETTER. This is a shortened version of our regular Wednesday long-form newsletter, except a whole lot shorter, less wordy, and we’ll be delivering it to your inbox every Monday & Friday.

Still the same newsletter that brings you the business behind the news with a healthy dose of sarcasm, but now bite-sized.

In today’s newsletter we discuss how much the average American family spends on the holidays, OpenAI, Palantir, and Anduril join to compete for Pentagon contracts, scientists know why Stonehenge was rebuilt thousands of years ago, King Charles will be delivering his Christmas message from a former hospital chapel, a Turkish woman has invented 15 different cheeses, Ryan Reynolds & Eva Longoria buy a Columbian soccer team, and the Parker Solar Probe is scheduled to make history by flying the closest-ever to the sun.

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WHAT WE’RE READING

🎄 American’s Holiday Spending Is Out Of Control

2024 saw American consumers demonstrate their resilience by increasing their holiday spending despite facing economic challenges. The convenience and accessibility of online shopping have contributed to this uptick, with many individuals opting to purchase gifts digitally. Electronics, clothing, and gift cards are among the most popular items this season, reflecting ongoing consumer preferences.

Economic concerns be damned! What’s a little inflation when there’s so many consumer goods to covet? Some shoppers are adopting more cautious spending habits. To mitigate financial strain, these consumers are starting their holiday shopping earlier, capitalizing on sales events, and focusing on essential items. This blend of increased overall spending with a mindful approach to budgeting highlights the complex consumer landscape during the 2024 holiday season.

This 2024 holiday season is punctuated by a couple of trends and factors influencing consumer behavior, including:

• Increased Spending
  Despite economic uncertainties, Americans are projected to spend more on holiday shopping in 2024 compared to previous years.

• E-commerce Growth
  Online shopping continues to rise, with a significant percentage of consumers preferring to purchase gifts via digital platforms.

• Popular Gift Categories
  Electronics, apparel, and gift cards remain top choices for holiday gifts among shoppers.

• Early Shopping Trends
  Many consumers began their holiday shopping earlier in the year, aiming to take advantage of sales and avoid potential supply chain issues.

• Economic Concerns
  Inflation and economic uncertainties have led some consumers to be more budget-conscious, seeking discounts and prioritizing essential purchases.
  

💲 Business

OpenAI joins forces with Palantir and Anduril to create a super tech conglomerate to compete for Pentagon contracts.

🪨 Science

Want to know why Stonehenge was rebuilt thousands of years ago? Those smart scientists think they finally know why.

🤴 Royals

King Charles, not one known for switching things up, has decided to deliver his Christmas message from a former hospital chapel instead of the traditional Buckingham Palace or Windsor Castle.

🧀 Food

Meet the Turkish woman who’s invented 15 different cheeses in her mountain guest house.

⚽ Sports

Ryan Reynolds is at it again, this time with the help of his friend Eva Longoria, who together have just taken over another soccer team, the Bogota-based La Equidad soccer club in Colombian in a deal worth $20 million dollars.

🔆 Space

The Parker Solar Probe is scheduled to make history by flying the closest-ever to the sun.

So much news, so little time. Until next time I’m signing out.

— Chris Thompson

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