Christmas is right around the corner, or at least online retailers will remind you it’s coming.
I chuckled when I saw an ambitious press release this morning. When reading press releases, I always find myself saying, “Can we check the math on that, please?”
The release: “70 Million household items can now be bought worldwide, as acceptance of over 40 cryptocurrencies becomes the flagship payment option……” (Only in my parents’ living room could you find “70 Million household items”.) The release talked about how you can buy wool socks for your partner or BeyBlades for your kids using your favorite crypto. Fun stuff.
It reminded me of 20 years ago when online holiday retail sales kept falling short of expectations. The media lampooned folks like Jeff Bezos saying shoppers would never get comfortable buying things online. Amazon stock traded $4 per share. In case you’re wondering, online retail sales have risen thirtyfold to $3.4 billion since 1998.
Maybe you won’t do all your Xmas shopping in Dogecoin this year.
But what about all those college kids: they’re into cryptos now. Someday, they’ll be moms and dads, too. They’ll still be into cryptos – and their kids are gonna want Beyblades. They might even be dorky enough by then to buy their spouse wool socks – with Dogecoin.