Fredrik and Charlie explore the different angles on 2 very different things this week, Black Friday discounting and the launch of the Tesla cyber truck.
Fredrik and Charlie both love the truck design but some of Charlie’s friends don’t, this reflects the effect this reimagining of truck design has had – people either love it or hate it!
The launch was close to Black Friday a time when everyone was at their computers and looking to buy was this a deliberate move? Find out more about Charlie and Fredrik think about discounting, whether it really works and Elon Musk’s latest unveiling, tune in now.
KEY TAKEAWAYS
Black Friday
It’s a time to buy before the Christmas rush and has its origins back in sales events that happened offline.
Every year it starts earlier and lasts longer now it’s a cyber weekend
It causes a massive spike in sales for retailers
People can put off buying at full price if they are expecting items to be discounted during an event such as a cyber weekend.
Black Friday can cause problems with a spike in sales meaning it’s difficult to fulfil
the orders, in conjunction with lower sales, prior and post the discount period.
Shops have to follow the online lead because otherwise, all shopping would be online.
Some shops begin discounts prior to the Black Friday weekend so that they can take shoppers money before it is spent online.
Premium brands do not benefit from discounted prices if they discount heavily it becomes difficult for them to justify their high-ticket prices at other times.
Many companies may market a 70% discount but in reality, it is only 40%, they put up prices to be able to discount and make the product more appealing.
Tesla cyber truck
It has polarised people’s views you either love it or hate it.
By taking the traditional design and twisting it to be ready for Mars, where Elon Musk is going anyway, he gets to have the vehicle today.
Being able to buy for just £100 is very tempting, but have people thought about the rest of the money due?
BEST MOMENTS
‘What you buy is usually for yourself’
‘I like selling because ultimately that’s how any business will grow
‘It’s super cool that a design like the ‘pick-up truck’ has been completely re-imagined’
‘If you are spending your money you may want to think about saving some of it
and the method of payment you are using’
VALUABLE RESOURCES
Invest In You Podcast
Trust is the New Currency book by Sheila Holt & Fredrik Sandvall
Kickstarter How To Make Money As A Teenager book
ABOUT THE HOST
Serial entrepreneur Fredrik Sandvall loves sharing ideas and interviewing world-class entrepreneurs and influencers. Invest in You is about investments, entrepreneurs, personal development and doing fun things. He hopes to ensure you take action, helping others and yourself, plus enjoy the journey we call life.
CONTACT METHOD
Contact Fredrik Sandvall – Invest in You
https://www.linkedin.com/in/sandvall/?originalSubdomain=uk
https://sandvallinvest.com/
https://www.facebook.com/FredrikinLondon
https://itunes.apple.com/gb/podcast/investing-skills/id1445899547?mt=2
Contact Charlie Sandvall
Charlie Sandvall LinkedIn
Contact Ivan Sandvall
Ivan Sandvall Instagram
