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Trends and Insights

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12 Dec 2023

'Doom Spending' Amid Economic Concerns Hits Record Highs

Despite 96% of Americans expressing concern about the economy, over a quarter are engaging in 'doom spending', or spending money despite economic and geopolitical concerns, undeterred by inflation and high interest rates. Consumer spending has not waned, even as 200 million shopped from Black Friday to Cyber Monday. The National Retail Federation forecasts holiday spending to potentially reach $966.6 billion. [Source](