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After a nearly $1 trillion holiday season, U.S. consumer spending shows no sign of slowing. The exact figure is $994 billion, according to recent findings from the National Retail Federation.
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.
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