Black Friday shoppers shunned credit cards at the start of the holiday season this past weekend, according to a survey released on Tuesday, adding a cautionary note to expectations for U.S. retail sales over the next few weeks.
Retailers from Amazon.com Inc to Target Corp offered steep online discounts to shoppers on Cyber Monday, aiming to win additional sales after a strong start to the holiday shopping season over the weekend. Shares of Amazon rose as much as 2.
The tides may have turned since the depths of the Great Recession, but shopping has not rebounded back entirely. This year, it seems clear that while there was a distinct rebound, growth has decelerated and we have not returned to prerecession spending.
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