Thanksgiving weekend sales hit a record high. Online spending alone increased by 7.8% from Thanksgiving to Cyber Monday. Over 200M shoppers made in-store or online purchases, a 2% increase from last year. This rise in spending surprises experts who warned of hesitant consumer spending due to inflation. Pay-in-increments companies like Klarna and Afterpay also report a significant surge in orders on Black Friday. YPulse’s Post-Holiday Shopping report indicates that young consumers tend to spend above their predicted budgets, and it’s clear that this year is no different. (Reuters)
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