American consumers got holiday shopping off to a strong start | CNN Business

11/30/2022 2:00:00 AM

A record number of Americans shopped over the Thanksgiving holiday weekend, a trade group says, despite high inflation and a potential recession looming

A record number of Americans shopped over the Thanksgiving holiday weekend, a trade group says, despite high inflation and a potential recession looming

Americans dished out for toys, televisions and clothing on Black Friday and into the holiday weekend, despite decades-high inflation and a potential recession looming in 2023.

The National Retail Federation, a trade group for the retail industry, said a record 196 million Americans shopped in stores and online over the Thanksgiving holiday weekend, a 10% increase from last year.Here are some of the most fascinating — and controversial — responses they shared: 1.Follow Us..

“As inflationary pressures persist, consumers have responded by stretching their dollars in any way possible,” NRF chief executive Matthew Shay said in a news release Tuesday.Shoppers returned to physical stores on Black Friday after avoiding much of in-person shopping the last two holidays due to Covid-19 concerns.before the actual wedding.Mastercard said in-store sales increased 12% on Black Friday from last year.Consumers also spent a total of $11." — annih4a3742bc4 2.3 billion on Cyber Monday, representing 5.

8% growth year-over-year, according to Adobe Analytics." "I’m South Asian, so when you go to a wedding, there’s so much color everywhere!!! The bride's dress, the groom's outfit, and the guests, of course!" — laraziz_15 3.Cyber Monday is the biggest online shopping day of the year, and this year set a new annual sales record.“With oversupply and a softening consumer spending environment, retailers made the right call this season to drive demand through heavy discounting,” said Vivek Pandya, lead analyst at Adobe." "I can understand wanting your bridal party to look uniform and to your taste on your big day, but to me that means you pay for what you want them to wear.“It spurred online spending to levels that were higher than expected.” Retailers have dangled promotions to drive consumer demand and unload excess inventory."The cash bars.

It appears the discounts were deep enough to convince many customers to buy.Consumers making more than $100,000 a year drove spending over the holiday weekend, Shay said on a call with reporters Tuesday.That's a weird argument.Lower-income consumers spend a larger share of their income on necessities and have pulled back some of their discretionary spending to afford groceries and essentials, analysts say.Overall, the National Retail Federation projects holiday sales to increase up to 8% from a year ago." — jancharn6 5.While that figure would be slower growth than last year, it’s above historical averages.

.We always have DJs.

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Disinformation Thanks Joe 1 cause ppl were broke last yr and 2 looks like 130 million ppl were smart and held on to that money....u already know the government got the next major catastrophe for next yr lined up so.... spend wisely But you guys keep telling us how bad everything is and “people can barely afford food and gas” More fear porn from the Malone and Licht kkklan

Yes I blew off brick and mortars 100% all Amazon there's always a 'despite' no matter how good the news. I bet a majority charged it to the credit cards and will worry about the payments next year!! It is what happens when you have a lot of money, then all of a sudden due to inflation, it is all gone.

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Bank of America CEO predicts two years of pain ahead in the housing market | CNN BusinessThe CEO of one of the nation’s largest banks is preparing for an economic downturn in 2023. But he’s also hopeful that the likely recession will be brief and “mild.” The IR has arrested Arash_Sadeghi just because he was the voice of less-known innocent political prisoners. Arash is in a critical life threatening condition. The IR intends to kill him in silence. Be Arash's voice. مهسا_امینی MahsaAmini IranRevoIution I'm old enough to remember when Poopy Pants Joe said inflation would be transitional...TRY HARDER CNN!