Thanksgiving and Black Friday were busy days as Americans did online shopping, “spending $11.6 billion a leap of 18 percent over last year’s shopping spree,” said Fox Business. This record indicates that Americans are optimistic about their financial situation in 2019 and in 2020. E-commerce surged faster than store sales on Thanksgiving weekend.
According to Fox Business, “bigger paychecks, more jobs, and a booming stock market are the ultimate economic equalizers. That’s why Americans keep buying and buying.” Notable adjustments in income strategies are being done by retailers as they offer both online and in-store sales.
Donald Trump’s entrance in office led to economists saying that “the bull market in stocks and the economic recovery had to come to an end.” However, Fox Business says that it is a recession phantom. Most sectors of the economy are “picking up steam.”
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Bulky spending behavior also revealed that the middle class is getting richer. According to Sentier Research, median family incomes just hit $66,000. Even lower-income Americans have seen an increase in their incomes.