Black Friday Breaks Records Across the Globe

Black Friday just exploded onto the global shopping scene, and it's like a party for everyone's wallets! People from all over the globe are going wild, flexing their shopping power and breaking online spending records.

A mind-blowing $70 billion was splurged online on Black Friday, out of which the US contributed $9.8 billion. It's not just clicks; in-person shopping also soared by a whopping 4.6%, almost double the usual foot traffic hype.

But guess what? The shopping fiesta is far from over. Cyber Monday is expected to smash records, with a projected spend of $12 billion to $12.4 billion globally. That's like a shopping tsunami but in a cool way.

Despite some money challenges (like pandemic savings taking a hit and borrowing costs going up), people worldwide are still going all-in. Experts say this isn't just a local craze; it's a global retail rave.

Things are looking pretty sweet globally. Unemployment is low, wages are beating inflation, and folks in the middle and upper-income brackets globally are stacking up those savings.

The global economy is on fire, growing at a speedy 4.9% recently. Black Friday vibes are hinting that the good times for global shoppers might stick around for a while.

Hold up, though—there's a twist.

A crazy jump in credit card debt hit a record high globally in the third quarter of 2023. It's like a red flag waving, especially with more people globally falling behind on payments. Blame it on interest rate hikes by central banks worldwide.

While the economy might give you mixed feelings, Black Friday sales are the cool kids in the room, waving away worries. While Black Friday sales are stealing the global spotlight, experts remind us that holiday spending doesn't spill all the secrets about how much cash people have.

So, the global holiday season is off to a rocking start! According to top global economists, let's not just look at what people spend but also peek into their piggy banks. The vibe is good globally, but you know, we gotta keep it real.

And also…

When everyone is shopping so much online you should also shop from today’s article sponsor, Shree Sarang which sells some of the best value-for-money artificial jewelry. Their collection is perfect for pairing with any traditional outfit to add a touch of elegance and enhance your beauty without breaking the bank.