In November 2023, consumers in the United States spent a record $38.6 billion at retailers, making it the biggest month for consumer goods retailing [82ee18aa]. Retail spending in November increased by 2%, led by a 7.5% surge in spending on household goods and a 4.2% jump in transactions at department stores. However, December saw subdued Christmas trading conditions as consumers did more of their holiday shopping early. The share of non-food transactions in December fell to 11.3% from 12.2% over the past decade, while the proportion of spending in November increased to 9.8% from 9%. November is already the biggest month for online retailing, with consumers spending a record $3.7 billion on non-food items. The growing popularity of Black Friday and Cyber Monday has impacted the seasonally adjusted spending figures, with economists expecting December retail sales to fall [82ee18aa].
Despite the strong Black Friday sales, December retail sales in the United States are expected to decline. The Australian Retailers Association chief executive, Paul Zahra, noted that retailers reported a subdued Christmas after experiencing record sales during Black Friday and Cyber Monday [82ee18aa].
The record-breaking Black Friday sales in November 2023 indicate economic strength and growth for the United States. However, the December retail sales figures are expected to be lower, reflecting subdued Christmas trading conditions. The growing popularity of Black Friday and Cyber Monday has shifted consumer spending patterns, with more purchases being made in November and online. While the strong Black Friday sales are a positive sign for the retail sector, economists predict a decline in December retail sales [82ee18aa].
The share of non-food transactions in December fell to 11.3% from 12.2% over the past decade, while the proportion of spending in November increased to 9.8% from 9%. November is already the biggest month for online retailing, with consumers spending a record $3.7 billion on non-food items. The growing popularity of Black Friday and Cyber Monday has impacted the seasonally adjusted spending figures, with economists expecting December retail sales to fall [82ee18aa].
Despite the strong Black Friday sales, December retail sales in the United States are expected to decline. The Australian Retailers Association chief executive, Paul Zahra, noted that retailers reported a subdued Christmas after experiencing record sales during Black Friday and Cyber Monday [82ee18aa].
The record-breaking Black Friday sales in November 2023 indicate economic strength and growth for the United States. However, the December retail sales figures are expected to be lower, reflecting subdued Christmas trading conditions. The growing popularity of Black Friday and Cyber Monday has shifted consumer spending patterns, with more purchases being made in November and online. While the strong Black Friday sales are a positive sign for the retail sector, economists predict a decline in December retail sales [82ee18aa].
Overall, the record-breaking Black Friday retail spend of $38.6 billion in November 2023 highlights the economic strength and resilience of the United States. However, December retail sales are expected to decline, indicating subdued Christmas trading conditions. The shift in consumer spending patterns, with increased online purchases and a higher proportion of spending in November, has impacted the seasonally adjusted figures. While Black Friday sales are positive for the retail sector, economists anticipate a decrease in December retail sales [82ee18aa].
