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☆ Here's the latest sign India will be a key growth market for Apple
▼ + stars: | 2023-11-28 | by ( Morgan Chittum | ) www.cnbc.com time to read: +3 min

AAPL YTD mountain Apple (AAPL) performance year-to-date Foxconn's China-based factories have been crucial for the production of iPhones and other Apple products likes MacBooks. Those issues, along with heightened U.S.-China tensions, prompted Apple — and suppliers like Foxconn — to expand into India. CEO Tim Cook has previously told CNBC that India presents a "huge opportunity" for Apple in terms of iPhone sales and manufacturing. And over the summer, Apple announced it had started production on the next-generation iPhone 15 in India. While China's economy remains under pressure post-pandemic, the Indian market offers significant growth opportunities for a company like Apple.

Persons: Apple, Apple —, Tim Cook, Morgan Stanley, Jim Cramer's, Jim Cramer, Jim, Punit Paranjpe Organizations: Foxconn Technology, Apple, CNBC, Afp, Getty Locations: India, China, Mumbai, Punit

☆ US Thanksgiving weekend sales hit record on big discounts, online boost
▼ + stars: | 2023-11-28 | by ( Deborah Mary Sophia | ) www.reuters.com time to read: +3 min

More than 200 million shoppers tapped into promotions both in-store and online during the Thanksgiving weekend, the National Retail Federation (NRF) said on Tuesday. That was a jump from the 196 million shoppers seen last year and trumped the trade association's estimates of 182 million. Online shoppers rose 3.1% to 134.2 million, making up for a slight dip in the number of customers who visited brick-and-mortar stores. The weekend saw about 121.4 million in-store shoppers, down from 122.7 million in 2022, according to the retail body. Adobe said discounts peaked at 31% for electronics and at 27% for toys on Cyber Monday, which is typically the biggest online shopping day in the U.S.

Persons: Kamil Krzaczynski, Matthew Shay, Vivek Pandya, trouncing, Klarna, Deborah Sophia, Juby Babu, Pooja Desai Organizations: Walmart, REUTERS, Adobe Analytics, Deloitte, National Retail Federation, Shoppers, Adobe Digital, Adobe, Thomson Locations: Chicago , Illinois, U.S, Bengaluru

Spending online on Cyber Monday is set to reach as much as $12.4 billion, according to Adobe Digital Insights, which tracks data through Adobe's Experience Cloud service for e-commerce platforms. Last-minute shoppers on Monday could spend $4 billion between 6 p.m. and 11 p.m. EST alone, it said. Other firms use different measurements to gauge purchases on Cyber Monday, the biggest online shopping day of the year in the United States. Salesforce, which tracks data flowing through its Commerce Cloud e-commerce service, said online sales on Cyber Monday were up by 4% by 4 p.m. EST, hitting $7 billion by late afternoon. Walmart, eager to capture market share, slashed prices on Sunday night, joining the trend of retailers' early discounts on major shopping days.

Persons: Salesforce, Eduardo Munoz, Brian Yacktman, Charles Sizemore, Sizemore, Siddharth Cavale, Deborah Sophia, Aishwarya Venogupal, Ananya Mariam Rajesh, David Gregorio, Nick Zieminski, Matthew Lewis Organizations: Adobe Digital, Adobe, Commerce, Shoppers, Workers, REUTERS, YCG Investments, Nike, Black, Sizemore Capital Management, Walmart, Amazon, Graphics, Insider Intelligence, Thomson Locations: United States, Robbinsville Township, New Jersey, U.S, New York, Bengaluru

NEW YORK, Nov 27 (Reuters) - A record amount of price-pinched holiday shoppers are expected to use buy now, pay later services for Cyber Monday to relieve stress on their wallets, according to Adobe Analytics. [1/2]A worker sorts products during Cyber Monday at the Amazon's fulfillment center in Robbinsville, New Jersey, U.S., November 27, 2023. The buy now, pay later firm saw a 29% increase in orders placed by U.S. shoppers on Black Friday, with some of the most popular items being personal electronics, televisions and kitchen appliances. It's become really, really, really popular," said Dan Dolev, an analyst at Mizuho Securities. Average basket sizes for buy now, pay later orders on Black Friday declined 32% compared to last year, according to a report from Quantum Metric, a sign that shoppers aren't making as big of purchases this year.

Persons: Klarna, BNPL, Mike Segar, It's, Dan Dolev, Arriana McLymore, Deborah Sophia, Juveria Tabassum, Aurora Ellis Organizations: Adobe Analytics, Shoppers, REUTERS, Mizuho Securities, Black, Thomson Locations: Robbinsville , New Jersey, U.S, New York City, Bengaluru

☆ Deal-hunters fuel $12 billion Cyber Monday shopping spree
▼ + stars: | 2023-11-27 | by ( ) www.reuters.com time to read: +4 min

REUTERS/Eduardo Munoz Acquire Licensing RightsNov 27 (Reuters) - After a busy holiday shopping weekend, discount seekers are expected to spend between a record $12 billion and $12.4 billion on beauty products, electronics, toys and apparel on Cyber Monday, according to Adobe Analytics. Heavy online traffic and transactions could add up to a boost in sales by U.S. shoppers of 5.4% or more, according to Adobe. Shoppers spent $10.3 billion in the weekend leading up to Cyber Monday, up 7.7% from last year as retailers offered more discounts compared to last year. More merchandise was being discounted in the weekend leading up to Cyber Monday, according to a report from LSEG. Walmart (WMT.N) , eager to capture market share, slashed prices on Sunday night, joining the trend of retailers' early discounts on major shopping days.

Persons: Eduardo Munoz, Vivek Pandya, Pandya, TJ Maxx, Jharonne Martis, LSEG, Rob Garf, Garf, Vanessa O'Connell, Deborah Sophia, Arriana, David Gregorio, Nick Zieminski Organizations: Workers, REUTERS, Adobe Analytics, U.S, Adobe, Shoppers, Adobe Digital, Walmart, Reuters, Costco, Commerce, Insider Intelligence, Thomson Locations: Robbinsville Township, New Jersey, U.S, Salesforce, Ross

☆ Premarket stocks: How the ‘Black Ceiling’ is holding some professionals and the economy back
▼ + stars: | 2023-11-27 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +12 min

In his new book “The Black Ceiling” Woodson, a former attorney, sheds light on systemic issues within elite professional settings and the broader economic repercussions that come from underutilizing and marginalizing talented Black professionals. Woodson spoke with more than 100 Black professionals about what he calls the Black ceiling — a significant barrier that impedes career progression and creates stigma and anxiety in the workplace. Racial discomfort encapsulates the sense of unease that a lot of Black professionals experience working in elite white work settings. Selective punitiveness is the widespread perception that Black professionals get treated especially harshly when they make mistakes. Firms need to train their personnel, especially their senior white professionals so that they don’t judge junior Black professionals adversely for these challenges.

Persons: Kevin Woodson, ” Woodson, Woodson, Bell, it’s, who’ve, Kim Schmidt, they’re, that’s, doesn’t, It’s, Eva Rothenberg, ” Grant Gustafson, Corie Barry, “, ” Barry, Nathaniel Meyersohn Organizations: CNN Business, Bell, New York CNN — Corporate America, University of Richmond School of Law, Elite, Sensormatic, Black, Adobe, Retailers Locations: New York, underutilizing, DC

☆ Record-setting holiday sales hit $12 billion
▼ + stars: | 2023-11-27 | by ( Matt Egan | ) edition.cnn.com time to read: +5 min

New York CNN —Enticed by deep discounts, Americans are expected to celebrate Cyber Monday by spending a record-setting $12 billion online shopping. The early results suggest the holiday shopping season is off to a positive start, aided in part by lower gas prices. Another popular measure of holiday spending, Mastercard SpendingPulse, found e-commerce sales jumped by an even stronger 8.5% year-over-year on Black Friday. In another sign of sturdy consumer spending, Americans continue to travel aggressively. That’s down 63 cents from the peak in September and marks 60 consecutive days of falling gas prices.

Persons: New York CNN —, ” Michelle Meyer, men’s hoodies, Mastercard SpendingPulse, ”, Mastercard’s Meyer, That’s, Sensormatic, Covid, Meyer, ” Meyer Organizations: New, New York CNN, Mastercard Economics Institute, CNN, Adobe Analytics, Adobe, JCPenney, Mastercard, SpendingPulse, Bank of America, Transportation Security Administration, Federal Reserve, AAA Locations: New York

☆ Foxconn to invest $1.5 bln to expand India operations
▼ + stars: | 2023-11-27 | by ( ) www.reuters.com time to read: +1 min

A Foxconn shareholder poses for photos after the annual shareholder meeting in New Taipei City, Taiwan May 31, 2023. REUTERS/Ann Wang/File Photo Acquire Licensing RightsBENGALURU, Nov 27 (Reuters) - Taiwan's Foxconn (2317.TW) will invest $1.5 billion in India in its latest expansion plan, the world's largest contract manufacturer of electronics said on Monday. The company, which announced the investment plan in a stock exchange filing, did not provide any further details. Foxconn has been rapidly expanding its presence in India by investing in manufacturing facilities in the south of the country. The contract manufacturer aims to double its workforce and investment in India by next year, a company executive had said in September.

Persons: Ann Wang, Foxconn, Liu Young, Kashish Tandon, Krishna Chandra Organizations: REUTERS, Rights, Thomson Locations: New Taipei City, Taiwan, India, Bengaluru

Vietnam's Prime Minister Pham Minh Chinh attends the retreat session of the 43rd Association of Southeast Asian Nations (ASEAN) Summit in Jakarta, Indonesia, September 5, 2023. The document, known as Resource Mobilisation Plan, has to be agreed with investors ahead of the UN Climate Change Conference (COP28) which begins on Thursday in Dubai. Vietnam's Prime Minister Pham Minh Chinh will attend the COP28 from Nov 30 to Dec 3, the government portal said, raising expectations that the plan could be announced there. A second foreign official said there was no major issue pending, and approval of the final version "is very nearly there." There is no certainty that Vietnam would actually take the loans on offer, and the communist government has been reluctant to take foreign loans in the past.

Persons: Pham Minh Chinh, Mast, Francesco Guarascio @fraguarascio, Khanh Vu, Simon Cameron, Moore Organizations: Vietnam's, 43rd Association of Southeast Asian Nations, ASEAN, Rights, Change, Reuters, of, Thomson Locations: Jakarta, Indonesia, Rights HANOI, Vietnam, Dubai, Hanoi

A lot of the spending was driven by deals and buy-now, pay-later programs. The Fed’s “beige book” report on the economy is out on Wednesday, and that will show how inflation is affecting businesses and consumers. But consumers continue to express concern over inflation that has left overall prices higher by about 18% since 2021. “With inflation falling as the Fed keeps rates unchanged, real interest rates continue to tighten,” said Richard de Chazal, macro analyst at William Blair. But consumers remain concerned about inflation and just how much will be seen on Tuesday when the Conference Board releases its consumer confidence index for November.

Persons: SpendingPulse, ”, Vivek Pandya, Signifyd, Richard de Chazal, William Blair, “ Organizations: Adobe Analytics, Adobe Digital, Consumers, Retailers, Federal Reserve, Fed, Wells, ”, Conference Board

☆ E-commerce stocks rally after Black Friday shoppers spend record online
▼ + stars: | 2023-11-27 | by ( Annie Palmer | In Annierpalmer | ) www.cnbc.com time to read: +3 min

Shoppers turned out in full force on Thanksgiving and over the Black Friday weekend, largely shunning physical stores for the comfort of clicking "buy online" from their couches. Black Friday online spending reached a record $9.8 billion in the U.S., up 7.5% from a year earlier, according to Adobe Analytics. Online sales on Cyber Weekend, the days between Black Friday and Cyber Monday, surged 7.7% to $10.3 billion. Cyber Monday sales are expected to reach up to $12.4 billion, making it the biggest U.S. online shopping day of the year, according to Adobe. A plastic rice washing bowl, listed as one of the top-selling Cyber Week items, is discounted 68% to $1.89 with free shipping.

Persons: Shoppers, Wayfair, Afterpay, Klarna, Sebastian Siemiatkowski, Siemiatkowski Organizations: Adobe Analytics, Black, Adobe, National Retail Federation, CNBC PRO Locations: U.S

☆ Vietnam set to raise effective tax rate on multinationals as part of global deal
▼ + stars: | 2023-11-27 | by ( ) www.reuters.com time to read: +2 min

HANOI, Nov 27 (Reuters) - Vietnam's parliament is set to approve on Wednesday a top-up tax for multinationals, which will raise the effective rate of the corporate levy to 15% from January in line with a global agreement. But it has eventually added it back to its schedule, with the vote on the tax expected now at the last day of its month-long session. Vietnam's corporate income tax is already set at 20%, but the country has offered for years effective rates as low as 5% and lengthy zero-tax periods to large foreign investors. With the new top-up tax, 122 foreign companies will face a steep increase in their tax costs in Vietnam, according to a document prepared by the Vietnamese government which estimated the additional intake for the state at 14.6 trillion dong ($601.05 million) a year. Reporting by Khanh Vu and Francesco Guarascio; Editing by Stephen CoatesOur Standards: The Thomson Reuters Trust Principles.

Persons: Khanh Vu, Francesco Guarascio, Stephen Coates Organizations: Samsung Electronics Co, chipmaker Intel Corp, Organisation for Economic Cooperation, Development, Thomson Locations: HANOI, Vietnam, Korean

☆ Here were the biggest winners and losers from Black Friday
▼ + stars: | 2023-11-27 | by ( Samantha Subin | ) www.cnbc.com time to read: +4 min

Despite the seeming rush to shop, this Black Friday ushered in moderately higher promotions over last year and mixed in-store traffic, according to some Wall Street analysts. Black Friday winners Value-focused shopping destinations seemed to win big Friday, based on annual store checks from a slew of Wall Street shops. The Black Friday shopping extravaganza also ushered in some bullish sentiment toward Shopify . Black Friday losers Not every popular retailer seemed to kick off the holiday shopping period on a strong note. While Lululemon drove strong in-store traffic, helped in part by advertising use in Black Friday markdowns, Nike and Under Armour both showed higher promotions, said Piper Sandler's Abbie Zvejnieks.

Persons: Michael Lasser, Bradley Thomas, Thomas, Kohl's, Morgan Stanley, Alex Straton, Goldman Sachs, Kate McShane, JPMorgan's Matthew Boss, Piper Sandler's Korinne Wolfmeyer, Morgan Stanley's Keith Weiss, Bhavin Shah, shouldn't, Nordstrom, Straton, Lululemon, Armour, Piper Sandler's Abbie Zvejnieks, lululemon Organizations: Adobe Analytics, UBS, Walmart, KeyBanc Capital, Dick's Sporting Goods, Body, Deutsche, Eagle Outfitters, Nike Locations: U.S

☆ Almost half of US consumers bought something via social media this year, according to a new survey. Here are the big takeaways on who's buying what and where.
▼ + stars: | 2023-11-27 | by ( Marta Biino | ) www.businessinsider.com time to read: +4 min

Almost half of American consumers have bought something on social media this year, a new survey has found, as tech companies push for people to buy and sell products on their platforms. The Influencer Marketing FactoryBeauty products and clothes are the most popular items bought on social mediaOver 25% of the respondents who did buy products on social media said they bought apparel on social media, while 19% purchased beauty products. Over a third of those who bought on social media spent more than $100A total of 35% of those who bought something said they'd spent more than $100. Almost 10% of those who bought something on social media did so weekly. This discovery aspect is a big focus for social platforms.

Persons: Bridget Dolan, Douyin, Patrick Nommensen, TikTok, they'd, Alessandro Bogliari, execs, Instagram Organizations: influencer, Influencer, Factory, Business, YouTube, Intelligence, Facebook Locations: Los Angeles, China

☆ Investors were betting big on crypto and some commodities with options during slow Thanksgiving week
▼ + stars: | 2023-11-27 | by ( Michael Khouw | ) www.cnbc.com time to read: +7 min

The 2.7 million individual trades were far lower than the 5.2 million trades from the Friday a week prior. In fact, the options market itself is saying there is only a 10% chance these calls expire in the money. Call spread risk reversal: Bought MSTR Dec. $600 call $15.40 Sold MSTR Dec. $650 call $8.85 Sold MSTR Dec. $430 put $7.20 Net credit = 65 cents When one sells a downside put one is taking the risk of purchasing the underlying at the strike of the put that is sold. The options flow in these ETFs suggests traders are betting on lower oil and gas prices. Several big names will be reporting earnings, here is a table of those that have weekly options, their earnings-related implied moves, and our options sentiment score.

Persons: Crypto, MARA, outpacing, ProShares UltraShort Organizations: Coinbase Global Inc, Marathon Digital Holdings, Microstrategy Inc, Bollinger Bands, Bloomberg, Oil, ProShares, Gas, ProShares UltraShort Bloomberg, United States Oil Fund, Hecla Mining Co, Royal, Inc, Intuit, Marvell Technology Locations: United States, Opec, Hecla, Kroger

☆ Price-sensitive US shoppers nab early 'Cyber Monday' deals
▼ + stars: | 2023-11-27 | by ( ) www.reuters.com time to read: +3 min

[1/3] Workers select and pack items during Cyber Monday at the Amazon fulfilment center in Robbinsville Township in New Jersey, U.S., November 28, 2022. Heavy online traffic and transactions could add up to a record $12 billion outlay by U.S. shoppers on Cyber Monday, according to Adobe Analytics. "You have consumers out there who are very price-sensitive and conscientious, and who want to make sure they get the very best possible deal." Walmart (WMT.N) , eager to capture market share, slashed prices on Sunday night, joining the trend of retailers' early discounts on major shopping days. Last-minute shoppers on Monday could spend $4 billion between 6 p.m. and 11 p.m.

Persons: Eduardo Munoz, Vivek Pandya, Pandya, Rob Garf, Garf, Vanessa O'Connell, David Gregorio Our Organizations: Workers, REUTERS, Adobe Analytics, Adobe Digital, Walmart, Adobe, Commerce, Thomson Locations: Robbinsville Township, New Jersey, U.S, Salesforce

☆ Foxconn is still running with difficult status quo
▼ + stars: | 2023-11-27 | by ( Chan Ka Sing | ) www.reuters.com time to read: +3 min

HONG KONG, Nov 27 (Reuters Breakingviews) - Terry Gou is not running for Taiwan’s presidency after all. Nonetheless, the $45 billion Apple (AAPL.O) supplier’s continuing push to move production outside of China leaves it firmly on frontlines of rising cross-strait tensions. Foxconn grew into the biggest employer in China, with more than 1 million workers at its peak and a top contract manufacturer for global brands. Foxconn is out of the election spotlight but it still has to grapple with an awkward status quo. CONTEXT NEWSTerry Gou, the billionaire founder of electronics maker Foxconn, announced on Nov. 24 that he will be withdrawing from Taiwan’s presidential election next month.

Persons: Terry Gou, Critics, Foxconn, Una Galani, Thomas Shum Organizations: Reuters, Apple, Democratic Progressive Party, DPP, KMT, Hai Precision Industry, World Trade Organization, Reuters Graphics, China -, Foxconn, Taipei Times, Thomson Locations: HONG KONG, China, Washington, Beijing, Taiwan, Kuomintang, Taipei

☆ Shoppers click 'buy' as retailers slash prices ahead of Cyber Monday
▼ + stars: | 2023-11-26 | by ( ) www.reuters.com time to read: +4 min

REUTERS/Brendan McDermid/File Photo Acquire Licensing RightsNov 26 (Reuters) - Holiday shoppers in the U.S. are seeking out the best deals and strategically nabbing the deepest discounts ahead of Cyber Monday, according to data from retailer websites aggregated by third parties. Cyber Monday, as the first Monday after the Thanksgiving holiday has become known as merchants step up online promotions, is set to be the biggest online shopping day of the year in the United States. Despite an earlier start to retailers' holiday promotions this year, there weren't a lot of great deals initially, Garf said. And "consumers clicked the buy button," spending $16.4 billion online in the U.S. and $70.9 billion globally that day, according to Salesforce. Other firms use different measurements to gauge online shopping patterns.

Persons: Brendan McDermid, Rob Garf, Garf, Salesforce, Vivek Pandya, Pandya, Steve Sadove, It’s, Vanessa O'Connell, Leslie Adler Organizations: Westfield Shops, REUTERS, Commerce, U.S . Retailers, Adobe Digital, Adobe, Mastercard, Saks Inc, Thomson Locations: New York City, U.S, United States, Salesforce

☆ China warns South Korea not to politicise economic issues
▼ + stars: | 2023-11-26 | by ( ) www.reuters.com time to read: +2 min

South Korean Foreign Minister Park Jin, right, talks with his Chinese counterpart Wang Yi prior to a meeting in Busan, South Korea, Sunday, Nov. 26, 2023. "China and South Korea have become cooperation partners with highly integrated interests and highly interconnected production and supply chains," Wang told South Korean Foreign Minister Park Jin, according to a Chinese foreign ministry readout. "Both sides should jointly resist the tendency to politicise economic issues, instrumentalise science and tech issues, and the broad securitisation of trade issues." South Korea has sought to avoid becoming embroiled in a tit-for-tat row between China and the United States over semiconductors. "China is willing to jointly promote the restart of revamped trilateral cooperation with South Korea and Japan," Wang said on Sunday.

Persons: Park Jin, Wang Yi, Ahn Young, Wang, Xi Jinping, Joe Biden, Yoon Suk Yeol, Fumio Kishida, Biden, Laurie Chen, William Mallard Organizations: South Korean Foreign, REUTERS Acquire, Rights, South Korean, U.S, Samsung Electronics, SK Hynix, South, Thomson Locations: Busan, South Korea, Rights BEIJING, China, Korea, United States, Japan, Beijing, Washington, Tokyo, Seoul

☆ China's Realme hits 200 million shipment milestone, to launch premium phones
▼ + stars: | 2023-11-26 | by ( Josh Ye | ) www.reuters.com time to read: +1 min

A man looks at his mobile phone next to a logo of Realme during its X50 5G product launch event in Beijing, China January 7, 2020. Realme, owned by Chinese consumer hardware giant BBK Electronics which also owns the Oppo and Vivo brands, said it had reached the 200 million mark in the second quarter. In total, just 14 companies globally which have shipped over 200 million phones to date. "We came into existence when there were over 700 smartphone brands in the world," said Xu Qi, Realme's chief marketing officer. Xiaomi (1810.HK) has recently released the Xiaomi 14 Pro which also runs on the new Snapdragon 8 Gen 3.

Persons: Jason Lee, Realme, Xu Qi, Xu, Josh Ye, Miral Organizations: REUTERS, Research, Huawei, Samsung, Apple, Counterpoint Research, HK, Thomson Locations: Beijing, China, HONG KONG

☆ China Warns South Korea Not to Politicise Economic Issues
▼ + stars: | 2023-11-26 | by ( Nov. | At A.M. | ) www.usnews.com time to read: +2 min

"China and South Korea have become cooperation partners with highly integrated interests and highly interconnected production and supply chains," Wang told South Korean Foreign Minister Park Jin, according to a Chinese foreign ministry readout. "Both sides should jointly resist the tendency to politicise economic issues, instrumentalise science and tech issues, and the broad securitisation of trade issues." South Korea has sought to avoid becoming embroiled in a tit-for-tat row between China and the United States over semiconductors. "China is willing to jointly promote the restart of revamped trilateral cooperation with South Korea and Japan," Wang said on Sunday. In September, senior officials from the three countries agreed to arrange a trilateral summit at the "earliest convenient time".

Persons: Wang Yi, Wang, Park Jin, Xi Jinping, Joe Biden, Yoon Suk Yeol, Fumio Kishida, Biden, Laurie Chen, William Mallard Organizations: South Korean, South Korean Foreign, U.S, Samsung Electronics, SK Hynix, South Locations: BEIJING, China, South Korea, Korea, United States, Japan, Beijing, Washington, Tokyo, Seoul, Busan

I decided to buy a Tesla this year, and I'm buying one new thanks to the tax credits on electric cars. As a result, I'm breaking with my long held tradition and purchasing a new 2023 Tesla Model 3 Performance edition. The federal tax credit for a used electric vehicle is $4,000. Note that these are tax credits, not tax deductions. However, the federal tax credits offered will vary, based on whether the battery was manufactured in the US.

Persons: I've, —, Tesla, it's, that's Organizations: Service, Tesla, Apple, Chrysler Pacifica, Ford, Quicken Locations: Colorado, Denver

☆ Energized shoppers break one-day holiday sales record
▼ + stars: | 2023-11-25 | by ( Eva Rothenberg | ) edition.cnn.com time to read: +3 min

CNN —Whether they jostled through brick-and-mortar stores or toggled between tabs and virtual carts, holiday shoppers were eager to participate in Black Friday this year. Both in-store and online retail sales increased year-over-year unadjusted for inflation, according to Mastercard’s SpendingPulse insights, which noted that apparel, jewelry and restaurant categories saw considerable spikes. Most shoppers did their browsing and buying on their phones, with mobile purchases accounting for $5.3 billion in sales. E-commerce platform Shopify also reported record sales totaling more than $4 billion worldwide, 22% higher than last year. As holiday shopping ramps up ahead of Christmas, analysts predict a busy time for retailers over the next few weeks.

Persons: ” Grant Gustafson, Sensormatic Organizations: CNN, Sensormatic, Black, Adobe

☆ Black Friday shoppers spent a record $9.8 billion in U.S. online sales, up 7.5% from last year
▼ + stars: | 2023-11-25 | by ( Rebecca Picciotto | ) www.cnbc.com time to read: +4 min

Black Friday's spending spike reflects a consumer who is more willing to spend than in 2022, when gas and food prices were painfully high. Pandya noted that impulse purchases may have played a role in the Black Friday growth since $5.3 billion of the online sales came from mobile shopping. A Mastercard analysis of this year's Black Friday sales found that in-store sales rose just over 1% versus online sales, which grew by over 8% compared to last year. Black Friday kept the momentum going from the day before on Thanksgiving when online sales totaled $5.6 billion, according to a prior Adobe analysis. The report forecasts that online shoppers will spend roughly $10 billion over the course of Saturday and Sunday, and a record $12 billion on Cyber Monday.

Persons: they're, Vivek Pandya, Pandya Organizations: Woodbury, Adobe Analytics, Adobe Digital, Adobe, Mastercard, Target Locations: Lacoste, Central Valley , New York, U.S

Toys, games and hobby gear are on track to be less expensive this holiday season for the first time since 2020, while sporting goods prices are down this holiday for the first time since 2018, data from the Bureau of Labor Statistics (BLS)showed. To be sure, prices overall are higher in 2023 despite slowed price growth, with October's consumer price index climbing to 3.2% year-over-year. The figure remained flat on a month-over-month basis, signaling some holiday item prices may be slow to come down. Despite a dip in sporting goods prices, they continue to pace above 2019 levels. Walmart WMT.N said prices of general merchandise - clothing, electronics, furniture - had declined by low to mid-single-digit percentages versus last year, enabling the retailer to cut prices this holiday season.

Persons: Theresa Forsberg, Jill Lizzo, Barbie, Walmart WMT.N, it's, ”, Christina Hennington, Vincent Alban, Jessica Ramirez, Jane Hali, Jeffrey Roach, Macy's, Kevin Simpson, Simpson, Siddharth Cavale, Amina Niasse, Jonathan Oatis Organizations: Bureau of Labor Statistics, Walmart, Reuters Graphics Reuters, REUTERS, Associates, LPL, Dick's Sporting, Reuters, Wealth, Target, Home Depot, Wayback Machine, Thomson Locations: New Milford , Connecticut, New York's Harlem, Chicago , Illinois, U.S, New York

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