Peter St Onge Podcast Ep 151 Weekly Roundup: Black Friday Spending Built on Debt
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Dec 15, 2025 Black Friday spending shot up 8%, but sales volume actually dropped, pointing to inflation's impact. The rise of AI in shopping is reshaping retail, yet foot traffic is down 6%. A million job vacancies highlight the skilled worker shortage, with schools failing to bridge the gap. Japan faces a looming debt crisis, trapped between inflation and stagnant policy. Meanwhile, the Fed's staggering $1 trillion loss raises questions about reserve management. Welfare spending is rife with fraud, fueling concerns over systemic issues.
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Holiday Spending Fueled By Debt
- Black Friday sales rose 7.7% but unit sales fell, showing spending grew mainly from higher prices and borrowing.
- Buy Now, Pay Later accounted for a large and risky share of purchases, especially among young and poor buyers.
Retail Shifts: Less Foot Traffic, More AI
- In-person retail foot traffic fell and AI-influenced purchases surged, reshaping shopping patterns.
- Retailers profit as BNPL users spend 14% more while delinquencies and hidden loans threaten creditworthiness.
Protect Your Credit From Hidden BNPL Debt
- Monitor BNPL exposure on credit reports and avoid hidden installment plans that don't report to bureaus.
- Prioritize reducing discretionary debt to protect future big loans like mortgages and car loans.