sales

Nov. 29 (UPI) — The nation’s consumers spent a record $11.8 billion on Black Friday, which exceeded the amount spent during in-store visits on the day after Thanksgiving.

Adobe Analytics data show a combined total of more than 1 trillion online visits to retailers’ websites, during which consumers spent the record amount that exceeded 2024’s Black Friday spending by 9.1%, Forbes reported.

Consumers also spent $6.4 billion online on Thanksgiving, according to Adobe Analytics.

The final numbers for Black Friday in-store spending were not available on Saturday, but analysts said it is less than the online total.

“Cyber Week is off to a strong start, with online spending on Thanksgiving and Black Friday both coming in above Adobe’s initial forecasts,” Adobe Digital Insights lead analyst Vivek Pandya said, as reported by Forbes.

“This was driven in large part by competitive deals across categories, like electronics, toys and apparel,” Pandya said.

“Discounts are set to remain elevated through Cyber Monday, which we expect will remain the biggest online shopping day of the season and year.”

Adobe Analytics had predicted an 8.3% rise for ecommerce retailers, but online buyers spent an average of $12.5 million per minute to break the 9% mark for online sales.

Mastercard SpendingPulse reported even more robust year-to-year increases in Black Friday sales, with 10.4% for online and 1.7% for in-store purchases.

Jewelry and apparel ranked among the leading product categories for online and traditional retailers, according to Mastercard SpendingPulse.

While the total spent in stores on Black Friday was up from 2024, foot traffic was down.

Black Friday foot traffic was down by 3.6% from 2024, according to RetailNext.

Shoppers are changing how they go about making holiday purchases and are spending less time inside stores than they did during prior holiday seasons.

Many online shoppers were aided by artificial intelligence to locate online deals, with Adobe Analytics reported an 805% increase in AI-driven traffic to retail sites in the United States when compared to 2024.

The Black Friday numbers help the National Retail Federation to assess the impact of the holiday season, which runs throughout November and December.

The NRF is scheduled to update its holiday spending outlook on Tuesday.

Nov. 21 (UPI) — The United States has sanctioned dozens of individuals, entities, vessels and aircraft accused of participating in Iran’s oil-shipping networks, as the Trump administration continues to squeeze the Islamic nation with its reinstated maximum pressure campaign.

The State Department said Thursday it was adding 17 names of companies people and vessels to its sanctions list, while the Treasury said it was adding 41.

“The United States remains committed to disrupting the illicit funding streams that finance all aspects of Iran’s malign activities,” State Department spokesman Thomas Pigott said in a statement.

“As long as Iran devotes revenue to funding attacks against the United States and our allies, supporting terrorism around the world and pursuing other destabilizing actions, we will use all the tools at our disposal to hold the regime accountable.”

In February, President Donald Trump reinstated his maximum pressure campaign of sanctions and other punitive economic measures against Iran from his first administration to force Iran to return to the negotiating table on a new deal aimed at preventing Tehran from securing a nuclear weapon.

Since reinstating the policy, Trump has repeatedly imposed sanctions targeting Iran, specifically its illicit oil trade, which funds its military forces.

The Treasury said it was sanctioning an additional six vessels of Tehran’s shadow fleet of oil tankers that export energy products. It also blacklisted Mahan Air, which works closely with the Islamic Revolutionary Guard Corps-Qods Force, the Iranian military’s specialized elite unit that oversees international operations and funds proxy militias, such as Hamas and Hezbollah.

The State Department said its sanctioned targets were located in several countries, including India, panama and the Seychelles, among others.

The sanctions freeze all property of the named companies and individuals in the United States and bar U.S. persons from doing business with them.

“Today’s action continues Treasury’s campaign to cut off funding for the Iranian regime’s development of nuclear weapons and support of terrorist proxies,” Treasury Secretary Scott Bessent said in a statement.

“Disrupting the Iranian regime’s revenue is critical to helping curb its nuclear ambitions.”

SEOUL, Nov. 3 (UPI) — General Motors Korea saw its sales plunge more than 20% in October from a year earlier due to a slump at home and abroad amid high tariffs under the United States’ Trump administration.

GM Korea, based west of Seoul, said Monday that it sold 50,021 vehicles last month, down 20.8% year-on-year. The company’s domestic sales dropped 39.5%, while exports declined 20%.

Citing statistics from the Korea Automobile & Mobility Association, GM Korea Vice President Gustavo Colossi offered an optimistic view about its performance this year.

“Despite the production losses in the third quarter, demand for Chevrolet vehicles remains strong both domestically and globally, as evidenced by the Chevrolet Trax Crossover ranking No. 1 in domestic passenger car exports from January to September this year,” he said in a statement.

However, some observers remain worried about the future of GM Korea.

“Most of GM Korea’s turnover comes from exports to the United States. But the 25% tariffs have weighed on the company this year. Even if the duties go down to 15%, the struggle is feared to continue,” Daelim University automotive professor Kim Pil-soo told UPI.

“Worse, its domestic sales accounted for only about 3% in October, with just over 1,000 units sold. If the situation continues, speculation about GM’s withdrawal from Korea is unlikely to fade,” he added.

Originally, South Korean automakers did not pay any tariffs when exporting their cars to the United States, thanks to the bilateral free trade agreement that went into effect in early 2012.

The Trump administration imposed tariffs of up to 25% on Korean-made automobiles earlier this year, although Washington agreed to reduce the rate to 15% late last month in return for Seoul’s promise to make major investments in the United States.

GM Korea has denied rumors that it plans to leave South Korea.