While U.S. online spending on Black Friday hit a record US$11.8 billion- up 9.1% from last year, as many people did their Christmas shopping early, economists have noted that Oregon shoppers are being more selective. Spending in the state grew by 5.1% last year, down sharply from over 13% in 2021.

Taken together, the latest spending data shows a sharp contrast between record-breaking Black Friday sales and a broader cooling in consumer demand.

Tidings Data Snapshot

Holiday Spending: Record Black Friday, Slower Growth Ahead $11.8B U.S. Online Black Friday Spending, 2025 (Record) +9.1% Black Friday Online Sales Growth vs. 2024 13% → 5.1% Oregon Spending Growth: 2021 vs. Last Year 2.8% → 1.8% U.S. Consumer Spending Growth: 2024 vs. 2025-26 Forecast -5% Average Planned H

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