Looks like pessimism about the economy didn’t stop Americans from shelling out $9.8 billion on Black Friday this year. That’s a 7.5 percent jump from 2022.
Electronics, TVs, and smartwatches were the most popular items sold. Foot traffic to brick-and-mortar stores increased this year by as much as 5 percent, while online shoppers are expected to spend a record $12 billion during today’s Cyber Monday sales.
Analysts say it will likely be the last spending spree of the holiday season. Customers have become increasingly price-conscious in recent years, doing most of their shopping during Black Friday weekend to get the most bang for their buck.
There are always those last-minute Christmas shoppers, but most Americans are expected to wrap up the majority of their purchases this week.