{"id":1755223,"date":"2022-11-29T12:48:17","date_gmt":"2022-11-29T17:48:17","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1755223"},"modified":"2022-11-29T12:48:23","modified_gmt":"2022-11-29T17:48:23","slug":"thanksgiving-weekend-holiday-shopping-shatters-expectations-despite-economic-headwinds","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/thanksgiving-weekend-holiday-shopping-shatters-expectations-despite-economic-headwinds\/","title":{"rendered":"Thanksgiving Weekend Holiday Shopping Shatters Expectations Despite Economic Headwinds"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">18<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fthanksgiving-weekend-holiday-shopping-shatters-expectations-despite-economic-headwinds%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1755223&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>The opening of the holiday shopping season was the most robust on record, even in the face of <a href=\"http:\/\/dailywire.com\/topic\/inflation\" target=\"_blank\" rel=\"noopener\">inflationary<\/a> pressures, <a href=\"http:\/\/dailywire.com\/topic\/supply-chain\" target=\"_blank\" rel=\"noopener\">supply chain<\/a> bottlenecks, and other <a href=\"http:\/\/dailywire.com\/topic\/economy\" target=\"_blank\" rel=\"noopener\">economic<\/a> headwinds.<\/p>\n<p>A record 196.7 million Americans shopped online and in person during the five days between Thanksgiving and Cyber Monday, according to data released by the National Retail Foundation, shattering the trade association\u2019s initial projection of 166.3 million shoppers during the first weekend of the holiday season.<\/p>\n<p>\u201cThe Thanksgiving holiday shopping weekend is a tradition treasured by many American families,\u201d National Retail Foundation CEO Matthew Shay remarked in a <a href=\"https:\/\/nrf.com\/media-center\/press-releases\/record-1967-million-consumers-shop-over-thanksgiving-holiday-weekend\" target=\"_blank\" rel=\"noopener\">press release<\/a>. \u201cAs inflationary pressures persist, consumers have responded by stretching their dollars in any way possible. Retailers have responded accordingly, offering shoppers a season of buying convenience, matching sales and promotions across online and in-store channels to accommodate their customers at each interaction.\u201d<\/p>\n<p>The typical consumer spent $325.44 on holiday-related purchases throughout the weekend, most of which was spent on gifts, exceeding the $301.27 average recorded last year. Americans were most likely to shop online or visit a department store.<\/p>\n<p>Shay said during a press call attended by The Daily Wire that many households have generally been \u201ca bit more cautious\u201d with their expenditures, although they continue to spend on necessities. Some families are \u201ctaking on additional debt\u201d and \u201ctapping into savings\u201d to meet monthly expenses and cover additional spending during the holiday season. He noted that overall retail sales have increased every month since May 2020, implying that the sector has \u201cincredible resilience\u201d despite multiple economic constraints.<\/p>\n<p>A similar <a href=\"https:\/\/www.dailywire.com\/news\/black-friday-breaks-revenue-record-as-consumers-endure-high-inflation\" target=\"_blank\" rel=\"noopener\">report<\/a> from Adobe Analytics found that households are projected to spend $210 billion this season, exceeding the $205 billion spent in 2021 and the $188 billion spent in 2020. Companies earned $9.1 billion this year on Black Friday alone.<\/p>\n<p>Shay also expressed concern at the beginning of the call over a pending rail strike that could cripple supply chain operations ahead of the holidays. \u201cAny slowdown, stoppage, or delay in rail transit of goods and people in this country would be devastating for our economy and for American households,\u201d Shay continued. \u201cWe certainly encourage Congress\u2026 to move quickly to remove this uncertainty so we can all move on without this hanging over our heads as we get into the last few weeks of the year.\u201d<\/p>\n<p>Hundreds of business associations recently <a href=\"https:\/\/www.dailywire.com\/news\/business-groups-demand-congress-step-in-to-avoid-certain-economic-destruction-from-rail-strike-ahead-of-holiday-season\" target=\"_blank\" rel=\"noopener\">asked<\/a> leaders of both major parties to intervene ahead of the holidays. President Joe Biden likewise <a href=\"https:\/\/www.dailywire.com\/news\/white-house-calls-for-congressional-intervention-to-avoid-potentially-crippling-rail-strike\" target=\"_blank\" rel=\"noopener\">demanded<\/a> that Congress immediately move to \u201cavert a potentially crippling national rail shutdown\u201d in a Monday statement. \u201cAt this critical moment for our economy, in the holiday season, we cannot let our strongly held conviction for better outcomes for workers deny workers the benefits of the bargain they reached, and hurl this nation into a devastating rail freight shutdown,\u201d he remarked.<\/p>\n<p>SMART Transportation Division, a union representing rail conductors, announced last week that members <a href=\"https:\/\/www.dailywire.com\/news\/rail-strike-threat-returns-as-union-group-rejects-latest-offer\" target=\"_blank\" rel=\"noopener\">rejected<\/a> the tentative agreement, which would produce the largest wage hike for the industry in four decades. Freight rail accounts for 40% of long-distance shipping volume, according to a <a href=\"https:\/\/rilastagemedia.blob.core.windows.net\/rila-web\/rila.web\/media\/media\/pdfs\/supply%20chain\/rila-rail-labor-dispute.pdf\" target=\"_blank\" rel=\"noopener\">report<\/a> from the Retail Industry Leaders Association, including products such as chemicals used to treat wastewater and ethanol used as a component in gasoline.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The opening of the holiday shopping season was the most robust on record, even in the face of inflationary pressures, supply chain bottlenecks, and other economic headwinds. A record 196.7 million Americans shopped online and in person during the five days between Thanksgiving and Cyber Monday, according to data released by the National Retail Foundation, &#8230;<\/p>\n","protected":false},"author":99,"featured_media":1755226,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[541],"tags":[],"class_list":["post-1755223","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-the-daily-wire"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1755223","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/99"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1755223"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1755223\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1755226"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1755223"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1755223"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1755223"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}