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Consumers spent a record $9.12 billion online shopping during Black Friday and another record $11.3 billionon Cyber Monday, according to the most recent data from Adobe. So far this November, consumers have spent$107.7 billiononline overall, up nearly 10% from last year.
Yet roughly60% of Americans were living paycheck to paycheck heading into the month.
“Shoppers are continuing to spend despite inflation and economic headwinds,” said Tom McGee, president and CEO of ICSC, the largest trade association for the retail real estate industry.
As high prices continue to weigh on most households’ financial standing, more shoppers are relying heavily on credit cards and flexible payment plans to make their purchases.
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Read the full article at: https://www.cnbc.com/2022/11/29/these-4-tips-can-help-you-stay-out-of-debt-this-holiday-season.html