Black Friday is traditionally recognized as one of the busiest shopping days in the United States, regularly resulting in millions, if not billions, of dollars’ worth of consumer purchases. The tradition continued as Black Friday consumer spending online this year reached a record $11.8 billion. 

The structure of that spending has changed in recent years as consumers have pivoted from brick-and-mortar stores and malls to online shopping. Amid economic uncertainty and affordability concerns, initial projections for consumer spending during the holiday season in the U.S. were projected to be more modest than in years past.