American consumers are spending more this holiday season despite bleak views of the economy. Online Black Friday sales hit $11.8 billion, up 9.1% from last year, while total Black Friday spending rose 4.1%, according to Adobe Analytics and Mastercard SpendingPulse. Cyber Monday sales are projected to reach a record $14.2 billion.
Analysts note the strong spending is masking underlying strain. Salesforce data shows discounts were shallower, the average selling price climbed 7%, and shoppers bought 2% fewer items, signaling price-driven growth rather than volume gains.
Economy | Black Friday: Americans prepare to spend $1 trillion this holiday shopping season
— VOZ (@Voz_US) November 29, 2025
https://t.co/ELFQKcdogA
Inflation remains elevated at 3%, and household budgets are tightening. High-income consumers continue to drive much of the economy’s momentum.
Moody’s Analytics says the top 10% of earners accounted for nearly half of all U.S. spending in Q2, contributing to a widening K-shaped economy.
Value retailers like Walmart and select luxury brands are outperforming, while middle- and low-income households remain cautious.
Also read:
TIPP Staff
