Thanksgiving Weekend ‘Still a Massive Event’ for Tech Spending: GoPro CEO

Though there was much “pull-forward” tech product demand due to the pandemic, Black Friday/Cyber Monday “is still a massive event in consumer spending,” GoPro CEO Nick Woodman told a virtual Wells Fargo investor conference Tuesday. Those days are “still like a ring of the bell for a large percentage of consumers to say, OK, let’s get out our wallets and start shopping,” he said. As for concerns that consumers “weren’t going to show up” for Black Friday or Cyber Monday, “that myth has been dispelled,” he said. GoPro “got comfortable” with its shift to “being more direct-to-consumer because we had good data,” said Woodman. “We’ve been growing our direct business year over year for quite some time. There have been periods of time where certain regions were low on inventory at retail and we saw enormous spikes in our dot-com business.”