From CNBC:
Shoppers have already spent a record $5.4 billion online on Black Friday: Adobe Analytics
Consumers aren’t waiting until Cyber Monday to shop online this holiday season.
Spending online on Black Friday, as of 9 pm ET, hit a new record of $5.4 billion, up 22.3% from a year ago, according to data pulled from Adobe Analytics, which measures transactions from 80 of the top 100 U.S. online retailers.
This comes as foot traffic appeared to be lighter at shopping malls across the country on Friday, a day that traditionally has been reserved for people to line up outside of big-box retailers and department stores to score doorbuster deals.
Total spending online on Black Friday is still forecast by Adobe to hit $7.6 billion, which would make the day the second-biggest online sales day ever, after Cyber Monday in 2018, where $7.9 billion was spent.
However, Adobe is still expecting spending on Cyber Monday this year to hit an even bigger record $9.4 billion, an 18.9% jump from a year ago.
Two factors - #1) - people have more money and #2) - people think that the future is going to bring more of the same. There is no uncertainty so they are not hoarding their money against a future downturn.
Thank you President Trump for this.
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