Americans expected to spend over a trillion dollars for the first time this holiday season
Americans expected to spend over a trillion dollars for the first time this holiday season
Americans spent a record $12 billion online on Black Friday this year, according to Adobe Analytics. Ali Bauman reports on how rising prices are impacting shoppers.
Read the full article on CBS Money
Truth Analysis
Analysis Summary:
The article is mostly accurate, aligning with forecasts from the NRF and Adobe Analytics regarding holiday spending. There's a slight positive slant towards consumer spending and economic optimism. The claim about exceeding a trillion dollars is supported by multiple sources, although the timeframe is 2025, not the current year.
Detailed Analysis:
- Claim: Americans expected to spend over a trillion dollars for the first time this holiday season.
- Verification Source #1: NRF expects holiday sales to surpass $1 trillion for the first time in 2025, with spending between $1.01 trillion and $1.02 trillion.
- Verification Source #2: U.S. holiday spending is set to top $1 trillion for the first time this year (2025), according to the National Retail Federation.
- Assessment: Supported by multiple sources, but the timeframe is 2025, not the current year. The article lacks specific year context.
- Claim: Americans spent a record $12 billion online on Black Friday this year, according to Adobe Analytics.
- Assessment: Unverified. The provided sources do not contain information about Black Friday spending or Adobe Analytics data. Requires external verification.
- Claim: Rising prices are impacting shoppers.
- Verification Source #4: PwC's 2025 Holiday Outlook survey indicates consumers expect their seasonal spending to decline on average by 5% from 2024.
- Assessment: Supported. While not directly stating rising prices are the sole cause, the PwC outlook suggests a decline in spending, which could be influenced by price increases.
Supporting Evidence/Contradictions:
- NRF expects holiday sales to surpass $1 trillion for the first time in 2025 (Source 1).
- PwC's 2025 Holiday Outlook survey indicates consumers expect their seasonal spending to decline on average by 5% from 2024 (Source 4).