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During the 2024 holiday shopping season, US consumers showed resilience despite inflation, with 197 million shoppers participating from Thanksgiving to Cyber Monday. Online spending surged, particularly through buy now, pay later (BNPL) options, reflecting changing consumer behavior and preferences. Retailers like Walmart thrived, while others like Target faced challenges.
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As Black Friday 2024 unfolds, retailers are offering significant discounts to attract shoppers. Despite the rise of online shopping, foot traffic remains high, with over 130 million expected to shop this weekend. Retailers are adapting to changing consumer habits, emphasizing in-store experiences and exclusive deals.
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Oil prices increased as U.S. futures dipped, influenced by strong factory orders and President-elect Trump's tariff threats against the BRIC nations. Asian markets showed optimism, buoyed by Wall Street's performance and signs of economic recovery in China.
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Cyber Monday 2024 is projected to be the biggest online shopping day of the year, with consumers expected to spend $13.2 billion, a 6.1% increase from last year. Retailers are adapting to changing shopping habits, as e-commerce continues to dominate the holiday season despite inflation concerns.
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Macy's has revealed an accounting scandal involving an employee who hid over $150 million in delivery expenses, leading to a significant drop in stock prices and a revised profit outlook. The company is also under pressure from activist investors to optimize its real estate assets amid declining sales.