U.S. Economy Breaks New Record
Biden’s economy is bad but that didn’t stop Americans.
American consumers spent an astounding $200 billion online shopping for goods this past holiday season which officially breaks an e-commerce spending record.
According to The Hill, the data was compiled using Adobe to show that between November 1st to December 31st, the American people spent $211.7 billion which is an increase of 3.5 percent year-over-year.
What’s even more surprising is that in just the five days between Thanksgiving and Cyber Monday, Americans spent $35.3 billion. This proves that while President Biden’s inflation has skyrocketed it has not deterred Americans from opening up their wallets to celebrate the holiday season.
Adobe data found that in the 2020 season Americans spent $188 billion online and $205 billion during the 2021 season.
The same data also found that American consumers dropped $9.12 billion on Black Friday and $11.3 billion on Cyber Monday.
The demand for toys this holiday season grew by an astounding 200 percent when compared to October’s data. Furthermore, video games and apparel and accessories also saw considerable sales as well.
Even though the U.S. economy is in a state of chaos right now, it shows that Americans did not hold back on their spending habits.
