Holiday Shopping Weekend Shows Economic Strength
New York – Despite worries about the economy, Americans showed their willingness to spend during the Thanksgiving shopping weekend, which ended on Cyber Monday.
Analysts are now looking at the sales numbers to understand how shoppers are doing financially and how strong the economy is. The numbers show people were shopping both online and in stores for deals on items like TVs and clothes. Though shoppers were still careful with their money.
Shopping habits have changed a lot over the years. While some people still go to stores, the biggest growth is online. A large portion of all holiday sales now happen online, showing how much the internet has changed shopping.
Cyber Week, the five days from Thanksgiving to Cyber Monday, saw a large amount spent online. Black Friday also saw record online spending.
According to the National Retail Federation’s CEO Matt Shay, people tend to separate holiday shopping from their worries about the economy. He said the holidays are a special time when families plan to spend money. The Thanksgiving weekend is often seen as the start of the holiday shopping season.
The National Retail Federation expects holiday sales to increase from last year.
Reports show that online sales increased during Cyber Week, and many people visited malls on Black Friday, setting records.
Mastercard SpendingPulse reported that Black Friday sales were up from last year, with online sales increasing significantly.
Despite these trends, shoppers are being selective, focusing on specific items and researching deals beforehand.
While stores offered good discounts during the Thanksgiving weekend, experts suggest that prices may not get much lower. Stores are also keeping less inventory because of the uncertain economy.
Some shoppers are using new technology like AI to find deals and gift ideas. AI has played a part in many online orders during Cyber Week.
Looking ahead, experts are watching to see if shoppers will continue to spend throughout the holiday season. They are also thinking about what the shopping trends might be in the coming year.
