Consumers unfazed by recession fears break Thanksgiving shopping record – Axios

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More Americans say they are worried about a recession next year and are getting more cautious about their spending habits and debt, but that didn’t slow down their holiday shopping.

Driving the news: Data from Adobe Analytics shows Black Friday spending increased by nearly 20% over last year, rising to $7.4 billion, even as fewer retailers offered big in-store discounts. Brick-and-mortar stores saw an overall 6% decline in sales, according to preliminary data from ShopperTrak.

  • Thanksgiving sales totaled $4.2 billion online, a 15% increase from last year and a record high, according to Adobe.
  • “The drop in Black Friday physical shopping mirrors a year-long share pullback in departments stores including Macy’s, Kohl’s and Foot Locker, all of which are down more than 25% this year,” CNBC notes. “Meanwhile, Amazon, the dominant U.S. e-commerce retailer, has gained about 20% this year.”

What it means: The big boost…

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