Trending Now
We have updated our Privacy Policy and Terms of Use for Eurasia Group and its affiliates, including GZERO Media, to clarify the types of data we collect, how we collect it, how we use data and with whom we share data. By using our website you consent to our Terms and Conditions and Privacy Policy, including the transfer of your personal data to the United States from your country of residence, and our use of cookies described in our Cookie Policy.
How does Black Friday impact the economy?
So, Black Friday is known for kicking off the holiday shopping season and the weekend can be critical to retailer's annual performance. Investors also see it as a good indicator of the health of the retail industry. Last Thanksgiving weekend, 165 million Americans went shopping in stores and online. Online alone for Black Friday, they spent $6.2 billion.
What is the role of the retail sector in the economy?
So, consumer spending drives a lot of the economy. And in fact, economists say it is one of the most important economic indicators. The National Retail Federation says that it contributes $2.6 trillion to annual GDP.