Posted 11/27/2023, 5:26:28 PM
Holiday Sales Stay Strong Despite Challenges - Record Black Friday, Big Cyber Monday Expected
- Black Friday sales hit record highs, up 7.5% vs last year, showing consumers still spending despite inflation and interest rate hikes
- Cyber Monday sales expected to break records and be the biggest online shopping day ever
- Reduced inflation has provided some relief to consumers recently
- Unemployment is low and wage growth outpaces inflation, positive signs for consumer spending
- Credit card debt and borrowing costs are at record highs, potential concerns for consumers going forward