<h2 id="quick-take">Quick Take</h2> 
According to CNBC analyst <a href="https://x.com/carlquintanilla/status/1728843745402011900?s=20">Carl Quintanilla</a>, a staggering $9.8 billion was spent on Black Friday, reflecting a 7.5% increment from the previous year, suggesting robust consumer behavior. 
<figure style="width: 100%" class="wp-caption alignnone">
 <img decoding="async" src="https://pbs.twimg.com/media/F_4WOUuXgAInL4U?format=jpg&amp;name=900x900" alt="Black Friday Revenue: (Source: Bloomberg, Adobe Analytics)" width="801" height="318">
 <figcaption class="wp-caption-text">
 Black Friday Revenue: (Source: Bloomberg, Adobe Analytics)
 </figcaption>
</figure> 
However, a source of concern lies in a parallel trend: many of these purchases appear to be financed through personal debt. 
<a href="https://www.bankrate.com/finance/credit-cards/credit-card-ownership-usage-statistics/#:~:text=Bankrate%20insights%20Seventy,Experian%29%20There%20were">Experian</a> reports that the average American household possesses 3.84 credit cards. In addition, as per the <a href="https://x.com/KobeissiLetter/status/1729151682787889564?s=20">Kobeissi Letter</a>, the ‘Buy Now Pay Later’ segment has observed a 20% growth year over year while credit card debt has hit an unprecedented $1 trillion. 
This data places a question mark on the perceived consumer strength. Are we witnessing actual financial strength, or does the escalating debt merely underline a culture of deferring payments facilitated by easy access to credit? 
<figure style="width: 100%" class="wp-caption alignnone">
 <img decoding="async" src="https://pbs.twimg.com/media/F_8uJVyWEAAn4Wu?format=jpg&amp;name=large" alt="Total Outstanding Credit Card Balance: (Source: The Kobeissi Letter)" width="1648" height="1130">
 <figcaption class="wp-caption-text">
 Total Outstanding Credit Card Balance: (Source: The Kobeissi Letter)
 </figcaption>
</figure> 
The post <a href="https://cryptoslate.com/insights/despite-record-sales-black-friday-underscores-americans-reliance-on-debt-and-credit/">Despite record sales, Black Friday underscores Americans’ reliance on debt and credit</a> appeared first on <a href="https://cryptoslate.com">CryptoSlate</a>.

Despite record sales, Black Friday underscores Americans’ reliance on debt and credit

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