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It’s beginning to look a lot like Christmas, all over social media. Stacey Vanek Smith visited one very Instagrammable spot to see how virality is affecting the bottom line for vendors. Plus: Can the world’s virtual sports bar make the move from X to Bluesky? And a look back one of our most-read stories of the year. If this email was forwarded to you, click here to sign up.

It’s 22F in New York City’s Bryant Park, and the “wintry mix” is in full force: freezing rain, perilously slick sidewalks, face-numbing wind. What could possibly compel a rational person to stand in line in this weather?

"Honestly, I came for the strawberries," says Annie Diaz, who traveled from New Jersey to the park’s holiday market with her boyfriend. Like everyone else shivering in line, they’re waiting to try the mega-viral dessert at the Strawberro booth: a cup of strawberries drenched in Belgian chocolate and pistachio cream, then sprinkled with crushed pistachios.

“She saw the videos, so of course we had to come,” says Josue Martinez. One TikTok post by Ella Kahan about the market’s food (“Chocolate-covered strawberries are definitely having a moment right now”) has been watched by more than 4 million people. Diaz and Martinez estimate the line will take about an hour, and when they reach the end of it, they will each fork over $25 for a coveted cup.

Welcome to the modern Christmas market economy, where centuries-old tradition meets capitalism and social media. These winter festivals have existed since the 1300s, when they provided an excuse for locals to gather and warm their hands and spirits during the coldest, darkest part of the year. Today’s markets are meticulously orchestrated machines that are bringing in millions of dollars and attracting visitors from all over the world.

“These markets have become much more sophisticated," says Dimitrios Buhalis, professor of tourism, technology and marketing at Bournemouth University in the UK. He points out that markets in Edinburgh, Chicago, New York, Stockholm, Vienna and Strasbourg, France, are seeing more visitors every year, with many traveling from abroad for the promise of a holiday experience worth bragging about.

“Especially after Covid, people realize life is not about stuff, it’s about moments—and sharing those moments with others,” Buhalis says. (This year, consumer spending on services and experiences has continued to grow, even as spending on goods–aka stuff–has declined.) And that sharing part is where all the social media comes in. After all, if you try the rainbow grilled cheese sandwich and nobody is around to film it, did it really happen?

The Bank of America Winter Village at Bryant Park is eminently Instagrammable, from the 45-foot tree and its glittering lights, to the ice rink (where skate rentals will run you $20) and luxury dining igloos ($242 for 90 minutes). Then there’s the hundreds of vendors selling such gifts as novelty socks, raingear for dogs, olive wood cutting boards and blown glass ornaments.

The holiday market at Bryant Park offers all kinds of meals. Photographer: Jimin Kim/AP Photo

But the undisputed star is the food. Multiple dishes have achieved internet superstardom this year, including fried pickles on a stick, a s’mores hot chocolate and a raclette sandwich.

The logistics aren’t simple: Vendors battle freezing temperatures without running water. And they fork over as much as $40,000 dollars to rent a booth for eight weeks from the hospitality company UrbanSpace, not to mention handing over a hefty cut of daily sales. But the cost and trouble has its payoffs.

“Incredibly busy doesn’t even come close to describing the foot traffic,” says Ariel Strizower, whose Gnocchi on 9th stand became a sensation for its gnocchi alla vodka—dumplings covered in creamy tomato sauce and topped with a fist-size ball of burrata cheese. The stand sells about 1,000 boxes of gnocchi every day at $20 a pop, double what Strizower charges at his regular locations.

On Thursday, a couple of those boxes went to Avery Donnelly, 18, from New York’s Long Island, and her family. Donnelly saw dozens of videos on TikTok featuring the must-try foods, and pushed her family to make a day of exploring them.

“It’s good with the chili flakes,” Avery says thoughtfully. “I really like it with the burrata.” Her mother, Siobhan Donnelly, is less impressed. “Could be more vodka-y. I’m going to give it a 6.5 out of 10 … maybe a 7.”

“That’s low,” Avery protests.

As the family debates the gnocchi’s merits, they’re waiting in the hourlong line for Strawberro’s Dubai strawberry cup. “It’s expensive,” Siobhan says, “but it’s the experience, right? Taking pictures for the family, seeing everything lit up at night.”

For Anna and Vasily Malyshev, owners of the Strawberro booth, the newfound TikTok fame feels a little like winning the lottery. They’ve struggled running food stands at festivals and farmers markets in the past, but now they are selling 1,000 pounds of strawberries every day. 

“We didn’t pay anybody, we didn’t do any marketing,” Vasily says. “We started to realize it might be going viral when the market came to us and said, ‘OK guys, we need to somehow organize the crowd.’”

“People just started to post more and more and more,” Anna says. That buzz has attracted not only customers but also investors, who want to help the couple open a permanent storefront. “And after that, the sky’s the limit!” Anna says.

As the sky grows darker and the lights come on, Avery and Siobhan Donnolly reach the front of the Strawberro line. They’re happy customers: “It’s unbelievable,” Siobhan raves, “12 out of 10.” Avery agrees. She plans to make her own TikTok review.

Moments like these are exactly what people are hoping to find when they come to these markets, says the professor Buhalis. The real appeal is as old as the tradition itself: a place to enjoy a moment with friends and family. “It’s winter. People want a light in the darkness, and that’s what these markets are.” He pauses. “Now, I would like to see this strawberry chocolate with pistachio. Maybe I need to come to New York and try this.”

In Brief

Sports Fans Look for a New Virtual Home

Illustration: Nathan McKee for Bloomberg Businessweek

At the risk of sounding like a vintage Magic Johnson tweet, let’s start with the obvious: Twitter is no longer what it was before Elon Musk bought it and renamed it X. Some people like the changes Musk has made over the past two years. Others don’t. For many in the second group, the search for a Twitter alternative took on a new urgency after Donald Trump won the US presidential election in November with Musk’s very public backing.

In the weeks after the election, millions of subscribers flocked to Bluesky, a social network founded in 2019 as a research project within Twitter and later spun out as its own company. The site’s user base has more than doubled since the end of October, from 11 million to more than 25 million. At least a few of those new people, if my own feed is any indication, came seeking to recapture the magic of following their favorite leagues and teams on Twitter.

On my Bluesky feed, I saw people posting “starter packs,” or lists of accounts, for others to follow based on their interests, whether the NBA or women’s soccer. People cheered the arrival of their favorite sports reporters and official team accounts. On Saturdays, as college football kicked off, they shared encouraging messages to try to jump-start the flow of posts that once made Twitter the second screen of choice during games. It all felt very earnest and 2010. There was also a whiff of desperation about it, as if, underneath it all, people knew the party had fizzled out and couldn’t simply move to another apartment.

The raucous conversation around sporting events can make X a hard place to leave, and Bluesky hasn’t replicated that yet. Ira Boudway in the latest Field Day column writes about how that could change: Two Things Bluesky Needs to Become the Ultimate Sports Companion

ICYMI

This week we’re taking a look back at some of Businessweek’s most popular stories from 2024. Perhaps your winter break plans include a ski trip. In February, Austin Carr wrote about the backlash against Vail Resorts when its purchase of Northeast regional resorts didn’t come with the upgrades skiers expected.

Illustration by Fromm Studio

With just four weeks until the start of the ski season, Attitash Mountain is still without a chairlift to its summit. At the base of the rural New Hampshire resort, pieces of a new high-speed quad—tall steel towers, stacks of chairs—lie in a parking lot as a construction crew mills about in the 26F (-3C) November cold. Attitash senior mountain operations manager Deirdre Riley is trying to get word from her helicopter pilots on whether they can fly in the gusty, cloudy conditions to begin hauling the parts up the craggy slopes. The airdrop was already scrapped the previous two days because of ugly weather, and the forecast looks uglier tomorrow. “Delays like this make us really nervous,” Riley says.

The quad’s predecessor, the Summit Triple, a rickety three-seat lift dismantled last spring, dated to 1986 and was a 17-minute lug to the top, where it dispensed frigid riders like an ice machine. Industry newsletter the Storm Skiing Journal called it “the most hated lift in New Hampshire, and possibly in America.” After seven months of foundational work to replace it, missing this season’s installation window would be a disaster, cutting off access to a large chunk of the already compact ski area and further infuriating locals who’ve been complaining about pretty much everything—poor snowmaking, understaffing, overcrowding, infrastructure breakdowns—at Attitash, now owned by the snow-sports behemoth Vail Resorts Inc.

Vail is known for destination properties such as Park City in Utah, Whistler Blackcomb in British Columbia and its flagship Colorado namesake, where $1,000-a-night hotels and slope-side restaurants teeming with Moncler jackets are the norm. Après-ski at Attitash, by contrast, is chicken fingers at a school-cafeteria-like lodge and a performance by funk cover band Motor Booty Affair. A good vibe, but not quite the chalet lifestyle Vail markets with its Epic Pass. The blockbuster subscription upended the US ski industry in the late aughts, with its unlimited access to a bunch of famed mountains in the West, and helped usher in an era of consolidation as rivals sought to build out their own multiresort packages.

Then the Colorado-based company ventured into the Northeast, a bastion of schuss culture sneered at by the Aspen crowd for its shorter, oft-frozen peaks.

Keep reading: How Vail Resorts Sparked the Great Northeast Ski Revolt

Taking Nordstrom Private

$6.25 billion
That’s the value of the deal announced Monday, led by the Nordstrom family, to take the department stores private. The founders are betting that the century-old retail chain will be more successful without the scrutiny and demands of the public market.

Not for Sale

“For purposes of National Security and Freedom throughout the World, the United States of America feels that the ownership and control of Greenland is an absolute necessity.”
Donald Trump
US President-elect
In a post on Truth Social, Trump hinted he still wants to buy Greenland, a self-ruling territory of Denmark. Greenland’s Prime Minister Mute Bourup Egede said by email that the island is “not for sale and will never be for sale.”

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