Good morning, ! It’s Thursday and today we explore where the $803B consumer`s budget for Technology goes, the boundary between consumer and creator continues to fade, Bain Capital to acquire major franchisee Sizzling Platter in a $1B deal, and December is positioned as the MVP of clothing sales. 

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DATA DIVE

Inflation Hopped Into the Basket Too

Easter spending hit $22B in 2024—down slightly from a record $24B in 2023—but don’t be fooled: inflation, not candy cravings, explains much of the growth since 2019. Shoppers are chasing value: 53% hit up discount stores, and 67% prioritize price over brand when buying chocolate. Even during festive moments, the wallet rules. And while Cadbury reigns supreme with 49% market share, there's still room in the basket for newer contenders—just don’t expect loyalty if your sticker shock hits harder than a sugar rush. (Read Or Listen To Full Report)

TREND OF THE WEEK

Green Fatigue Hits European Consumers

Despite looming EU green rules (CSRD, EUDR, PPWR, CSDDD), consumer appetite for eco-friendly products is fading. Boomers lead the retreat at -38%, followed by Gen X (-15%) and Gen Z (-10%). Meanwhile, retailers wrestle with Scope 3 emissions and rising costs, as the gap between ambition and reality widens. (More)

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ECOMMERCE

Africa’s E-Commerce Boom: The $55B Opportunity on the Horizon

Africa’s e-commerce market is quietly staging one of the decade’s most impressive growth stories. From $18B in 2019 to a projected $55B by 2029, the sector is charging ahead at an impressive +11.8% CAGR, fueled by digital adoption, mobile penetration, and a rising consumer class hungry for convenience.

While early pandemic years saw plateaus at $29B in both 2022 and 2023, the engine has restarted. Forecasts show consistent annual gains from 2024 onward, as infrastructure catches up and cross-border logistics improve. This isn’t just about better apps, it’s about platforms integrating payments, fulfillment, and fintech to serve a growing digital-first customer base.

Crucially, it's a diversified surge. Urban hubs are expanding fast, but so are rural markets as mobile commerce bridges access gaps. Whether it’s fashion, groceries, or digital services, Africa’s e-commerce platforms are capturing wallet share across demographics.

Bottom line: Africa’s e-commerce isn’t a future bet anymore, it’s a right-now play. And smart capital is already in the checkout line.

DEAL OF THE WEEK

Bain Capital Takes a Bite: Sizzling Platter Scooped Up in $1B Deal

Private equity giant Bain Capital is going big on fast-casual, snapping up Sizzling Platter in a $1 billion deal, according to Bloomberg. The Utah-based franchise powerhouse runs over 750 restaurants across eight brands, headlined by 450 Little Caesars locations spread across the U.S. and Mexico.

Sizzling Platter isn’t just about pizza. Its portfolio spans consumer favorites like Jamba, Wingstop, Dunkin’, Jersey Mike’s, Cinnabon, Red Robin, and Sizzler, making it a diverse bet on mainstream dining. Previously owned by CapitalSpring, the group had been quietly on the auction block, with Jefferies and UBS financing the transaction to get it across the finish line.

For Bain, it’s another sharp move in a growing menu of restaurant plays. Fresh off its 2023 acquisition of Fogo de Chão, and past stakes in Bloomin’ Brands, Dunkin’, and Domino’s, Bain is doubling down on familiar territory. This deal also follows Bain’s $5.5 billion purchase of Japan’s Seven & i Holdings, showing a clear appetite for food-service scale globally.

Bottom line: Bain is building a restaurant empire, and Sizzling Platter just turned up the heat. (More)

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BROUGHT TO YOU BY THE GIFT CARD CAFE

Gift Card Corner: The Great December Dump

December dominates gift card redemptions, with 25% happening then—followed by a lull the rest of the year, except for a small bump in May (thanks, moms and grads). September and October trail at just 4% each. Despite the surge, nearly $27B in gift card value goes unspent—$244 per person, with Millennials holding onto the most at $330. Great for retailers, not so much for consumers. (More)

CONSUMER TECH

Tech & Telco Takeover: Where $803B in Consumer Spending Headed in 2024

The global tech and durables market clocked in at a massive $803.8B last year, and if you’re wondering where the lion’s share is landing, look no further than your phone bill. Telco dominates the field with a commanding 42% market share, as connectivity becomes the baseline utility of the modern consumer economy.

But there’s a lot more to the story. Major domestic appliances, think refrigerators and washing machines, secure a strong second at 21%, proving that durable goods are still a bedrock of household spending. Meanwhile, IT products (14%) and consumer electronics (11%) continue to ride the tailwinds of remote work, smart home adoption, and ongoing digitalization.

Smaller categories like small domestic appliances (9%), photo equipment (2%), and office gear (2%) round out the landscape, reflecting post-pandemic shifts in consumer priorities and hybrid living arrangements.

Bottom line: Connectivity is king, but the full tech ecosystem is humming. From your smartphone to your smart fridge, consumers are doubling down on digital life essentials.

SEASONAL INSIGHTS

The MVP of Wardrobes

When it comes to U.S. clothing sales, December isn’t just a holiday month—it’s Fashion’s Super Bowl. Thanks to Black Friday, Cyber Monday, and Super Saturday, clothing stores saw a 4.07% sales bump in December 2024 alone. Factor in the rush for gift cards (a full 25% of annual transactions land in December), and you’ve got retailers sprinting to the finish line. Despite inflationary headwinds, the sector held strong at $359B, with non-luxury lines expected to drive future growth. For brands and investors alike, December isn’t optional—it’s essential. (More)

CONSUMER BEHAVIOR

Consumers Scroll, Creators Rise

The line between consumer and creator keeps blurring, as social media penetrates more and more. In 2024, 21% of users now identify as influencers — because apparently, it’s not enough to scroll, you have to sell. YouTube and TikTok are winning the eyeballs, but old-school Facebook is quietly holding its ground across all age groups (grandparents still love it). Consumers are flocking to TikTok for inspiration, while LinkedIn has become an unlikely home for brand discovery. And while everyone still wants funny and entertaining content, the takeaway is clear: brands should play guest, not host. Save the hard sells for LinkedIn, and just vibe on the rest. (More)

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