It seems America can't resist a deal.
Shoppers showed a continued resilience over Black Friday weekend, despite warnings that dwindling savings and high interest rates would dampen holiday spending.
Americans spent a record $12.4 million on Cyber Monday, according to Adobe Inc., which compiles the data.
And the Mall of America — the largest shopping center in the country — said it racked up more shoppers this Black Friday weekend than it saw in 2019 before the pandemic.
On top of a great weekend for retailers, business research firm the Conference Board said consumer confidence ticked up in November after three straight months of decline.
"The 2023 holiday shopping season began with a lot of uncertainty, as consumers shifted their spending to services, while dealing with rising costs across different facets of their lives," said Vivek Pandya, a lead analyst at Adobe Digital Insights. "The record online spending across Cyber Week however, shows the impact that discounts can have on consumer demand."
The Mall of America saw 4% more visitors between Friday and Sunday than on Black Friday weekend 2019. The mall was not open as many hours, either.
Two hours after opening Friday, organizers had already distributed all 4,000 of the mall's door prizes, a new record. Nearly 250,000 people visited the Mall of America on Black Friday this year and more than 515,000 went to the mall over the three-day weekend.