A record number of holiday shoppers turned out from Thanksgiving Day to Cyber Monday, according to the National Retail Federation.
So far, though, figures from Adobe Analytics showed that online spending hit record highs on key days during the holiday shopping weekend. Black Friday sales rose 2.3% to hit $9.12 billion and Cyber Monday sales rose 5.8% to $11.3 billion, according to the company, which tracks sales on retailers' websites.
NRF said Tuesday that its tally of shoppers over the holiday weekend topped last year's turnout of 179 million during the same period last year. The group, which began tracking the figure in 2017, had forecast a turnout of 166.3 million for this year. Or it could portend a more challenging 2023. If Americans are funding shopping spree by slashing savings rates and tallying up big balances on credit cards or through 'Buy Now Pay Later,' that could leave them with less to spend in the months ahead.
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