Sales on Black Friday were up 2.5 percent versus last year, according to Mastercard Spending Pulse, reports the Wall Street Journal.
The growth was driven, in part, by gains in purchases of jewelry and clothing as well as spending on sporting events and at restaurants. About 182 million people were expected to shop online and in-store between Thanksgiving and Cyber Monday, according to the National Retail Federation.
In addition to purchasing more, Americans are changing the way they spend to the detriment of retailers who offer store-branded credit cards. Purchases made using these cards have suffered due to a shift to ecommerce and store closures during the pandemic. Full Story (Subscription Required)
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