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The Census Bureau's Advance Retail Sales Report for November revealed headline sales were up 0.7% last month. The latest reading was higher than the expected 0.6% monthly growth in consumer spending.
Holiday spending is expected to grow 2.5%-3.5% year over year. Several ETFs are poised for solid gains.
Black Friday continues to be the most popular shopping day for both in-store and online shopping.
Sales at brick-and-mortar stores grew just 0.7% year-over-year, according to preliminary estimates by payments processor Mastercard, and were lower according to data firm Facteus.
US shoppers spent a record $10.8 billion online this Black Friday, marking a 10.2% year-over-year increase, according to Adobe Analytics. As the official kickoff to the holiday shopping season, Black Friday showcased the growing dominance of e-commerce, with consumers flocking to mobile devices and desktops to snag deals on everything from electronics to beauty products.
It was a 10% rise from a year ago, according to Adobe Analytics.
CNBC's Courtney Reagan reports on Black Friday's retail trends.
Online spending hit a record $6.1 billion over Thanksgiving, according to Adobe's most recent estimates, as consumers continue to lean heavily on e-commerce.
Thanksgiving weekend has long been seen as the traditional start to the most important sales period for retailers, and so far, the indication is that we're in for a strong holiday season for e-commerce. Salesforce is tracking activity in real time and has just put out its first figures for the day.
The Census Bureau's Advance Retail Sales Report for October revealed headline sales were up 0.4% last month. The latest reading was higher than the expected 0.3% monthly growth in consumer spending.
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