L2 Founder Scott Galloway recently sat down with Bloomberg’s ‘Money Moves’ to discuss the “winners and losers” of Black Friday. Galloway gave the win to Apple ‘hands down,’ as four-fifths of Black Friday online sales came through iOS. The broader implication of Apple’s Black Friday success is that its loss in market share to Android is more than compensated for by Apple’s popularity among households with income in the top 20 percent. In addition to the fact that, as Galloway states, two-thirds of e-commerce growth over the next five years will come from households with incomes above $100k, Apple’s control over e-commerce will only increase. Finally, Galloway identified social media as this year’s loser, pointing out that it drove less than one percent of sales despite having a distinct role in the path to purchase. For the full Bloomberg interview, click here.
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