That’s a wrap: This year, the U.S. minted 53 new “unicorns” — privately held companies valued at over $1 billion — and is now home to 764 of the world’s billion-dollar startups. 

OpenAI galloped to the head of the pack with a $157 billion valuation and a record-breaking $6.6 billion funding round.  

Still, these companies represent only a fraction of the market movers: The $2.5 trillion valuation of American unicorns represents less than 6% of the S&P 500. 

— The Editors  

📬 Share this with your network. Get on the list. 

🎁 Unbox the unexpected: A “chaos packaging”* trend is shaking up store shelves — from sunscreen in whipped cream dispensers to products like Liquid Death, known for its irreverent branding of canned water. The thirst quencher reached a $1.4 billion* valuation earlier this year, showing that clever packaging can deliver serious profits. 

🎀Put a bow on it: Holiday spending on decorations increased by 20% this year, potentially driven by viral items like Home Depot’s 2.5 feet tall holiday dog statues ($40*). Festive favorites, including gift wrap, twinkling lights, and delivery services, rose in price by up to 30% since 2019. 

💸 Jingle bills: Americans are expected to spend $18.5 billion using buy now, pay later services (BNPL), an 11% increase from last year. In addition to BNPL service providers, some banks are now entering the space, offering interest-free installment plans for past buys. These offerings convert a portion of the customer’s existing credit line into payment plans, so consumers can pay off their monthly card bills punctually while financing bigger items over time.  

✂️Just re-wrap: Regifting is a popular option during the holidays, with 42% of people opting to pass along presents to save money, according to Empower research. And with nearly 2 in 5 Americans admitting they overspend on gifts to impress others, regifting can be a smart way to stay on budget while spreading holiday cheer. 

Portfolio packages deliver 

Americans are working hard and saving smart: Empower's analysis of how people spent and saved in 2024 reveals Americans grew their 401(k) balances by about 8.5% this year, reflecting disciplined saving and favorable market conditions.  

Millennials led the way in wealth growth, with a 13.7% increase to their 401(k) balance and an 11% rise in net worth — more than any other age group.  

This year’s gains highlight how consistent retirement planning can lay the foundation for long-term financial happiness.

A sweet finish: Brewing excitement 

Pantone named “Mocha Mousse” its Color of the Year 2025* in a nod to the growing “little treat” trend, where small indulgences — like grabbing a specialty coffee — bring daily joy. 

Empower Personal Dashboard^TM data reveals that Americans spend an average of $30.31 a month on their caffeine fix, visiting one of the nation’s top coffee retailers three times monthly. In November, the price of roasted coffee ticked up 2.3%* month-over-month, according to the Consumer Price Index.  

The soundtracks of 2024 

In 2024, listening to podcasts and audiobooks outpaced* music streaming, solidifying their place as the preferred audio format. Nearly half (47%) of Americans have listened to a podcast in the past month, up 12% from 2023. Alex Cooper, who founded Trending media company, signed a blockbuster deal with SiriusXM worth around $125 million.  

Audiobook listening surged, with Americans listening to 7 books* this year, on average. The U.S. audiobook industry grew 14%* in unit sales between Q4 2022 and Q4 2023, but with Spotify, it grew 28%. In a bid to remain competitive, Audible launched a $3* for three months offer in early December.  

Unwrapped: Americans’ most-asked money questions 

Empower research reveals Americans would rather wait in line at the DMV (29%), sit on jury duty (27%), miss a flight (26%), or have a TV show spoiled (26%) than tell a stranger how much money they have. People may not be talking, but they are searching. 

What is the #1 money question searched for online? Find out on The Currency^TM.  

As we wrap up 2024, we wish you a happy, prosperous new year — see you in 2025.