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

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. “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.

“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. “It spurred online spending to levels that were higher than expected.” Retailers have dangled promotions to drive consumer demand and unload excess inventory. It appears the discounts were deep enough to convince many customers to buy.

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.

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Majority of Americans want House GOP to probe Hunter Biden’s overseas business deals: PollA majority of Americans approve of the House GOP’s plans to probe Hunter Biden’s foreign business dealings, a newly released poll shows. Some love less than lover pay more for nothing Metaverse isn't that like a logical thing to do - investigate a criminal? what dimension have i slipped into... They can add Jared Kushner and Ivanka to the list....
Source: WashTimes - 🏆 235. / 63 Read more »

AMC Networks CEO steps down after less than three months | CNN BusinessAMC Networks is looking for a new CEO.
Source: cnni - 🏆 326. / 59 Read more »

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!
Source: CNN - 🏆 4. / 95 Read more »