A spendy, splurgy Black Friday

Summary

Marketplace Morning Report: "A Spendy, Splurgy Black Friday"

Date: December 1, 2025
Host: Sabri Benishore (in for David Brancaccio)
Duration: ~8 minutes (content only)

---

Episode Overview

This short yet packed edition of Marketplace Morning Report covers three major economic stories relevant to listeners starting their day: a strong Black Friday and Cyber Monday in retail, ongoing softness and new dynamics in the housing market, and an innovative look at how solar power is being combined with agriculture in Colorado. Each segment provides a snapshot of current trends, peppered with expert insight and memorable voices from the field.

---

1. Black Friday and Cyber Monday: Record-Breaking Sales Amid Tough Times

Segment starts: [01:44]

• Despite persistent inflation, tariffs, and a generally “negative consumer mood,” Americans turned out in force for Black Friday shopping, a trend predicted to surge into Cyber Monday.
• Salesforce projects U.S. Cyber Week sales will hit an all-time high—$78 billion, up 3% year-over-year.
• Notably, AI is guiding spending decisions more than ever: about 20% of global sales this week are AI-influenced.
• The primary device for shopping: Mobile phones.
• Top Cyber Monday deals: Electronics, with discounts expected at 30% (Adobe).
• Black Friday spending details:
  • Record $11 billion spent, up 9% over last year (Adobe).
  • Shoppers attracted by deep bargains on TVs, computers, clothes, furniture, and toys.
  • Rise in usage of “Buy Now, Pay Later” options—sales via these programs jumped almost 9% compared to last year.

Memorable Quotes

• “More and more consumers are letting AI help them spend their money… about a fifth of global sales will be influenced by AI this week.”
  — Nancy Marshall Genser [02:14]
• “Adobe says consumer spending broke records on Black Friday, coming in at more than $11 billion, up more than 9% over last year.”
  — Nancy Marshall Genser [02:27]
• “More cash-strapped consumers are using buy now, pay later.”
  — Nancy Marshall Genser [02:38]

---

2. U.S. Housing Market: Discounting, Delistings, and Stagnation

Segment starts: [03:03]

• Record numbers of home sellers are discounting their properties to attract buyers; average discount is about $25,000 off list price (Zillow).
• Conversely, many frustrated sellers are pulling their homes off the market. Delistings are reportedly at the highest level in 8 years (Redfin).
• Underlying causes:
  • After steep climbs, home prices have stagnated or fallen in numerous markets.
  • Mortgage rates, while slightly lower than earlier in the year (from “7% plus”), remain high enough to dampen affordability.
  • Labor market fears and “wavering consumer confidence” further chill demand.
  • Hopes of a rebound as rates eased were not realized due to continued high rates and strained inventory.
• Single-family construction is actually down 6-7% this year, limiting the housing supply (National Association of Home Builders).
• The overall market is characterized by “buyers and sellers struggling and the economy isn’t helping.”

Expert Voices & Quotes

• “Even though conditions have improved a little bit from an affordability standpoint, they're still not affordable nationwide.”
  — Ben Ayres, Economist [03:41]
• “It’s not really a great time still to buy a home.”
  — Ben Ayres [03:52]
• “We still have pretty much a lackluster housing market. Mortgage rates are high, inventory is somewhat strained.”
  — Ben Ayres [04:06]
• “Single family home construction this year is likely to be down 6 or 7%.”
  — Robert Dietz, National Association of Home Builders [04:25]
• “The biggest indicator in the real estate market is job growth, and the job market is flat.”
  — Israel Hill, Portland, OR Real Estate Broker [04:41]

---

3. Agrivoltaics: Solar Power Meets Farming in Colorado

Segment starts: [06:42]

• Agrivoltaics is gaining traction: combining solar arrays with agriculture to maximize land use.
• Feature story: Marketplace’s Amy Scott visits Jack’s Solar Garden in Longmont, Colorado—a farm using 3,000+ solar panels over four acres to power ~300 homes while cultivating crops beneath the panels.
  • Farm income had been falling for years; solar (started in 2018) provided new revenue and community value.
  • Byron Kominek, farm owner/manager, highlights synergy: electricity generation outpaces past hay profits, and new crop yields augment income.
  • Shade from panels: “The more shade that's accessible … to crops … that's going to be useful in the hotter, drier parts of our country.” — Byron Kominek [08:14]
  • Farming logistics: Small equipment is needed due to limited space between panels, but microclimates improve some crop yields.
  • Partnership with nonprofit Sprout City Farms: Grows tomatoes, peppers, onions, greens, and herbs beneath panels.
  • Looking forward: Plans for a berry "U-Pick" operation to further diversify.
• Key point: As millions of acres shift to solar farms, agrivoltaics allow continued food production and rural economic vitality.

Notable Quotes

• “How do we make our farm more useful financially for our family and do something useful for our community?”
  — Byron Kominek [07:32]
• “As millions of acres convert to solar farms to meet growing energy demand, we don’t have to leave the land useless. We can continue to make use of it, creating jobs… and producing food for our communities.”
  — Byron Kominek [09:10]
• “Selling electricity makes more money than hay production ever did.”
  — Byron Kominek [09:25]

---

Timestamps for Key Segments

| Segment | Start Time | |--------------------------------------------|------------| | Black Friday & Cyber Monday sales | 01:44 | | U.S. Housing Market latest | 03:03 | | Agrivoltaics – Solar meets farming | 06:42 |

---

Tone

The tone is brisk, practical, and informative—sticking to Marketplace’s tradition of efficiently delivering critical economic updates while embedding accessible storytelling and expert insight.

---

Summary Takeaway

This Marketplace Morning Report highlights consumer resilience as holiday sales break records despite economic challenges, while pointing out persistent headwinds in housing and spotlighting innovative solutions to rural economic pressure through agrivoltaics. The episode balances numbers, expert commentary, and on-the-ground reporting, giving listeners a quick, substantial update on three pressing economic themes as December gets underway.

Transcript

[Morgan Stanley Sponsor]

This episode is sponsored by Morgan Stanley's Thoughts on the Market it can be difficult to stay up to date on the financial market in today's ever changing environment. With so much commentary at any given moment, it's hard to cut through the noise to gain quality, actionable insights. Morgan Stanley is here to help with their podcast Thoughts on the Market. Thoughts on the Market is your daily market snapshot covering trends across the global investment landscape and offering perspectives from Morgan Stanley's leading economists and strategists. It's one of the only daily podcasts providing real time commentary from a financial institution on the day's biggest questions and topics. And with Most episodes under 5 minutes long, market clarity can fit seamlessly into your daily routine. Staying informed has never been easier. Listen and subscribe to thoughts on the Market on Spotify, Apple Podcasts, YouTube or wherever you get your podcasts.

[Dell Sponsor]

Introducing your new Dell PC with the Intel Core Ultra processor, it helps you handle a lot, even when your holiday to do list gets to be a lot like organizing your holiday shopping and searching for great holiday deals and customer questions and customers requesting custom things. Plus planning the perfect holiday dinner for vegans, vegetarians, pescatarians and Uncle Mike's carnivore diet. Luckily you can get a PC with all day battery life to help you get it all done. That's the power of a Dell PC with Intel inside, backed by Dell's Price match guarantee. Get yours at the best price of the year by visiting Dell.com Holiday terms and conditions apply. See Dell.com for details.

[Sabri Benishore]

Despite inflation, tariffs and a generally negative consumer mood, holiday sales on Black Friday were pretty good. From Marketplace, I'm Sabri Ben, ashore in for David Brancaccio. Black Friday went pretty well, it turns out, and shoppers are expected to keep up that momentum today. Cyber Monday Marketplaces Nancy Marshall Genser has.

[Nancy Marshall Genser]

More Salesforce expect Cyber Week sales to hit all time highs, reaching $78 billion in the U.S. a 3% increase over last year. More and more consumers are letting AI help them spend their money, so Salesforce says about a fifth of global sales will be influenced by AI this week, and we're making most of those purchases over our phones. The best cyber deals today are expected to be on electronics, with discounts of 30%, according to Adobe. And in spite of wavering confidence, Adobe says consumer spending broke records on Black Friday, coming in at more than $11 billion, up more than 9% over last year. Shoppers were enticed by bargains. They bought TVs, computers, clothes, furniture and toys. More cash strapped consumers are using buy now, pay later. Adobe says these sales are almost 9% higher than this time last year. I'm Nancy Marshall Genser for Marketplace.

[Sabri Benishore]

There are changes afoot in the country's struggling housing market. Zillow reports record numbers of home sellers are discounting their properties. The average discount is about $25,000 off the listing price. At the same time, same time, some sellers are so fed up with not getting the price they want, they're taking their homes off the market entirely. Redfin says. Delisting is at the highest level in eight years. Marketplaces Mitchell Hartman has more after years.

[Mitchell Hartman]

Of rising sharply, home prices have been stagnant or falling in many markets this year, and mortgage rates have come down from the 7% plus level we saw in January.

[Ben Ayres]

Even though conditions have improved a little bit from an affordability standpoint, they're still not affordable Nationwide.

[Mitchell Hartman]

Economist Ben Ayres we have many people.

[Marketplace Host]

That are worried about the labor market.

[Ben Ayres]

And more and more people saying it's not really a great time still to buy a home.

[Mitchell Hartman]

There were hopes the housing market would rebound earlier this year as interest rates fell, says Guy Sakala at Inside Mortgage Finance. But that didn't happen.

[Ben Ayres]

We still have pretty much a lackluster housing market. Mortgage rates are high, inventory is somewhat strained.

[Mitchell Hartman]

An increase in the supply of new homes would keep prices down and help first time buyers. But instead, says Robert Dietz at the national association of Home Builders, single family.

[Ben Ayres]

Home construction this year is likely to be down 6 or 7%.

[Mitchell Hartman]

Putting all this together, Portland, Oregon, real estate broker Israel Hill sees a housing market where buyers and sellers are struggling and the economy isn't helping.

[Morgan Stanley Sponsor]

The biggest indicator in the real estate.

[Marketplace Host]

Market is job growth, and the job.

[Mitchell Hartman]

Market is flat, making consumers hesitant to take the leap into home ownership. I'm Mitchell Hartman for Marketplace.

[Morgan Stanley Sponsor]

This episode is sponsored by Morgan Stanley's Thoughts on the Market. It can be difficult to stay up to date on the financial market in today's ever changing environment. With so much commentary at any given moment, it's hard to cut through the noise to gain quality, actionable insights. Morgan Stanley is here to help with their podcast Thoughts on the Market. Thoughts on the Market is your daily market snapshot covering trends across the global investment landscape and offering perspectives from Morgan Stanley's leading economists and strategists. It's one of the only daily podcasts providing real time commentary from a financial institution on the day's biggest questions and topics. And with Most episodes under 5 minutes long, market clarity can fit seamlessly into your daily routine. Staying informed has never been easier. Listen and subscribe to thoughts on the market on Spotify, Apple, Apple Podcasts, YouTube, or wherever you get your podcasts.

[Odoo Sponsor]

This podcast is supported by Odoo. Some say Odoo business management software is like fertilizer for businesses because the simple, efficient software promotes growth. Others say Odoo is like a magic beanstalk because it scales with you and is magically affordable. And some describe Odoo's programs for manufacturing, accounting, and more and more as building blocks for creating a custom software suite. So Odoo is Fertilizer Magic Beanstalk building blocks for Business Odoo exactly what businesses need. Sign [e-mail] that's O D O O.com.

[Sabri Benishore]

Solar power is an abundant renewable energy source, but turns out solar arrays can also be good for agriculture. It's called agrivoltaics, and the team from Marketplace's climate podcast How We Survive, visited a farm outside of Denver to see it in action. Marketplace's Amy Scott has I'm at a.

[Amy Scott]

Farm in Longmont, Colorado, looking out at an array of more than 3,000 solar panels glinting in the sun.

[Ben Ayres]

It covers just over four acres of land where the solar panels are, and it powers about 300 homes in our community.

[Amy Scott]

Byron Kamenek is the owner and manager of Jack's Solar Garden. He named it after his grandfather, who bought the original farm in the early 1970s and grew hay and wheat. When Kamenek took over in 2018, he was looking for ways to increase the farm's income.

[Ben Ayres]

Our family had been losing money on the farm essentially over a number of years, and the idea was, how do we make our farm more useful financially for our family and do something useful for our community?

[Amy Scott]

And that's when he stumbled on the idea of agrovoltaics, the practice of using the land underneath solar arrays to grow food. Can you show us some of what's growing under here?

[Ben Ayres]

Yeah, let's go get in the shade.

[Amy Scott]

Yeah, it was just a ploy to get in the shade. We're visiting in late summer on a scorching day. The solar panels are elevated 6 and a half to 8ft off the ground, creating microclimates below as they tilt throughout the day to face the sun.

[Ben Ayres]

I think of myself as a shade peddler a lot of times, like the more shade that's accessible to people, to animals, to crops. That's going to be useful in the hotter, drier parts of our country.

[Amy Scott]

For the past five years, Common Ek has partnered with a nonprofit called Sprout City Farms to grow fruits, vegetables and herbs in rows beneath the solar panels. We're growing a ton of tomatoes, peppers, onions, a lot of greens. Katie Ketchum is the field and harvest manager. She says there are some eccentricities involved with farming amid solar panels. Maneuvering equipment and stuff like that can be challenging. We have a small walk behind tractor. We can't really drive a traditional tractor in between these panels. But maybe the biggest advantage is more efficient land use. Commonix says as millions of acres convert to solar farms to meet growing energy.

[Ben Ayres]

Demand, we don't have to leave the land useless. We can continue to make use of it, creating jobs for people underneath the solar panels, producing food for our communities, keeping rural communities especially more afloat.

[Amy Scott]

And as a business, he says, selling electricity makes more money than hay production ever did. Next year, he plans to add another income stream, a u pick berry operation beneath the solar panels. In Longmont, Colorado, I'm Amy Scott for.

[Sabri Benishore]

Marketplace, and in New York, I'm Sabri Benishore with the Marketplace Morning Report. From APM American Public Media.

[Marketplace Host]

Sometimes kids ask questions that reveal just how much adults still need to learn. Like can you explain what causes an economic bubble and why are things so expensive at the airport? Or how much national debt is might be too much? Fear not. Million Bazillion is back with a new season to help you and your kids become pros at understanding how money shapes the answers to all those questions and more. Listen to the latest season of Million Bazillion on your favorite podcast. Apparently.