Black Friday sales did gangbusters as the nation enters a holiday shopping season expected to test shoppers, who account for nearly three-quarters of U.S. economic activity.
Consumers spent a record $9.8 billion online on Black Friday, which marks a 7.5% increase over the year prior, according to Adobe Analytics.
Shopper visits, a metric used to assess in-person sales, rose 4.6% compared to a year ago — a rate nearly double the average overall increase in foot traffic so far this year, retail data firm Sensormatic Solutions said.
Even more, consumers are expected to spend between $12 billion and $12.4 billion on Cyber Monday, which would make it the biggest online shopping day ever recorded, Adobe Analytics said.
A significant reduction of inflation over the past year has delivered some relief for consumers. At the same time, they’ve been squeezed by a decline in savings built up…
