Experts warn of credit card debt crisis as potential record holiday spending threatens uncertain economy
More Americans went shopping than ever before over Thanksgiving weekend, a good sign for retailers. But experts say the economy isn't thriving yet.
A recent Fox News poll shows more than 75% of Americans are concerned about the state of the economy. Despite their uncertainty, over 18 million Americans, more than expected, hit the stores for the Thanksgiving holiday weekend.
The National Retail Federation says a record 200.4 million consumers spent money this holiday weekend. Around 44% of shoppers say online was their go-to destination.
«I buy a lot of stuff on TikTok and stuff like that, so I do believe people use their phone to buy stuff more than in person,» Ifrah Sultan, from Nashville, Tennessee said.
At the Mall of America, a woman talks with a sales associate at Pandora. «It was bigger than we expected but reflects the resilience of consumers and they're still out there. They're shopping, they're engaged in commerce,» National Retail Federation (Copyright: Mills Hayes/Fox News / Fox News)
Black Friday remained the most popular in-person day with more than 76 million shoppers hitting the stores. Despite Cyber Monday sales, the biggest online shopping day this year was also Black Friday. NRF says over 90.6 million people shopped online Black Friday, in comparison to 73.1 million on Cyber Monday.
CONSUMERS PLAN TO INCREASE SPENDING THIS HOLIDAY SEASON: SURVEY
«I like to go shopping, I like to look, I like to try on. I hate buying stuff online. My wife, however, buys everything online,» Tom Scala, from New Jersey, said.
President and CEO of the National Retail Federation Matthew Shay says we are in an era of blended commerce.
«It's getting much more difficult to distinguish between purely in-store and purely
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