SSPAI

Tag: Tesla

  • SSPAI Morning Brief: Clicks launches the Power Keyboard and Communicator phone

    SSPAI Morning Brief: Clicks launches the Power Keyboard and Communicator phone

    Morning Brief

    1. Clicks launches the Power Keyboard and Communicator phone
    2. Pebble releases the Round 2 watch
    3. DeepSeek publishes a paper introducing the efficient training technique mHC
    4. ASUS notifies channels of price increases starting today
    5. A new batch of works enters the public domain
    6. BYD surpasses Tesla to become the world’s top EV seller in 2025
    7. Rumors You Can Just Glance At

    Clicks launches the Power Keyboard and Communicator phone

    On January 2, tech startup Clicks Technology unveiled its first batch of new products following its physical keyboard cases.

    Among them, the Clicks Communicator phone is positioned as a “modern communication companion,” with a role similar to that of a Kindle alongside an iPad, intended primarily as a user’s secondary phone. The device runs Android, features a candybar design, and comes with a 4-inch display and a full physical keyboard. It weighs 170 grams and measures 12 mm thick. To reduce information overload, the system interface is deeply customized based on Niagara Launcher, abandoning the traditional app grid in favor of a minimalist message aggregation center. In terms of hardware, the Communicator is equipped with a 50-megapixel rear camera and a 24-megapixel front camera, while retaining a 3.5 mm headphone jack, a mute switch, and a MicroSD card slot. A signal-light button on the side changes color according to notification type. The device is powered by a 4000 mAh battery. Details about the processor and storage have not been disclosed. The Communicator starts at $499 (approximately RMB 3,487), with an early-bird pre-order price of $399, and is expected to ship later this year.

    The other new product, the Clicks Power Keyboard, is a two-in-one device combining a Bluetooth keyboard and a power bank. It supports MagSafe and Qi2 wireless charging standards and can magnetically attach to the back of a phone. The keyboard features a sliding design and, in addition to serving as a physical keyboard for phones, can connect via Bluetooth 5.4 to up to three devices such as tablets and smart TVs. The Power Keyboard weighs 180 grams, is 15.2 mm thick, and has a battery capacity of 2150 mAh, of which 500 mAh is allocated specifically for keyboard use. The product is priced at $109 (approximately RMB 790), with an early-bird price of $79, and will officially go on sale this spring.

    Pebble releases the Round 2 watch

    On January 2, smartwatch brand Pebble announced the Pebble Round 2. As part of the brand’s reboot plan, the Round 2 is a revival of the Pebble Time Round released in 2015, aiming to recreate the classic circular design that was once known as the “thinnest in the industry,” now updated with more modern technology.

    In terms of hardware design, the Pebble Round 2 addresses one of the biggest drawbacks of the original model—its overly wide bezels. While retaining an ultra-thin 8.1 mm stainless steel case, the new model features a 1.3-inch color e-ink display with a pixel density doubled from the previous generation to 283 ppi, along with backlight support. The Round 2 keeps physical side buttons, allowing users to rely on tactile, eyes-free operation in scenarios such as meetings.

    To achieve a battery life of 10 to 14 days, the Pebble Round 2 makes clear trade-offs in functionality. It retains only basic health features such as step counting and sleep tracking, and does not include a heart rate sensor, making it unsuitable as a dedicated fitness-tracking device. On the software side, it runs the open-source Pebble OS and is compatible with thousands of watch faces and apps. A built-in microphone supports voice input and replies, but due to limitations imposed by Apple’s system, this feature currently mainly targets Android users, with iOS support set to roll out first in the EU. Previously, Pebble released a low-cost AI smart ring with recording and transcription capabilities, and the company has stated that it plans to bring similar AI features to its watches in the future.

    The product is priced at $199 (approximately RMB 1,390) and is now available for pre-order on the official website, with shipments expected in May this year. For customers who previously pre-ordered the square-faced Pebble Time 2, the company is also offering the option to switch their reservation to the Round 2 while retaining their place in the queue.

    DeepSeek publishes a paper introducing the efficient training technique mHC

    On January 1, DeepSeek released a technical paper co-authored by its founder Liang Wenfeng, proposing a new deep learning architecture called “Manifold-Constrained Hyper-Connections” (mHC). The research aims to optimize computational efficiency, enabling larger-scale models to be trained at lower cost in environments with limited computing resources.

    The mHC technique is a further refinement of the “Hyper-Connections” architecture. Hyper-Connections were originally proposed by researchers at ByteDance in September 2024, with the goal of improving upon the mainstream ResNet (Residual Network) architecture invented by He Kaiming and others at Microsoft Research Asia. The approach was designed to address signal attenuation in deep networks—where information gradually weakens as it propagates through layers, preventing deeper layers from receiving effective signals—as well as model collapse, in which different inputs become increasingly similar or even converge after successive layers of processing.

    The DeepSeek team points out that while ByteDance’s approach increased network complexity, it overlooked the rapidly rising memory costs in large-model training, resulting in limited real-world scalability. In response, DeepSeek’s mHC approach introduces specific manifold constraints that force data flows to operate only along certain geometric trajectories (manifolds). This preserves the advantages of hyper-connections while successfully addressing memory and cost bottlenecks, achieving what the paper describes as “almost negligible computational overhead.” According to the paper, the DeepSeek research team conducted experiments on models with 3 billion, 9 billion, and 27 billion parameters, and the empirical results show that mHC offers better scalability than traditional architectures while maintaining stability during large-scale training.

    The paper was uploaded to arXiv under Liang Wenfeng’s personal account. Previously, Liang had personally published only DeepSeek’s most important technical papers, such as those related to the R1 and V3 models, and in this work he is listed as the final author. This move confirms that he remains deeply involved in core research and development, and is widely seen as a signal that the technical direction for DeepSeek’s next-generation core models has been set. Market expectations suggest that DeepSeek may follow the R1 release strategy and unveil a new large model before the Lunar New Year holiday in mid-February.

    ASUS notifies channels of price increases starting today

    According to VideoCardz, ASUS sent a “2026 Product Price Adjustment Notice” to its partners on December 30 last year, announcing that price adjustments will take effect starting January 5, 2026.

    The notice states that due to structural volatility in the global supply chain, multiple key components are facing severe cost pressures, particularly DRAM and NAND memory. These changes stem from “adjustments in global foundry capacity allocation,” “rising investment costs in advanced process nodes,” and “structural gaps in the industry caused by demand for AI computing power.”

    Although ASUS did not specify which models would be affected, it clearly stated that it would implement “strategic price adjustments for certain product portfolios.” As the effective date of the price increase comes just ahead of the opening of CES 2026, industry analysts believe that ASUS’s upcoming next-generation hardware—especially AI PCs and gaming devices expected to be unveiled at CES—will be the first to be impacted, potentially setting new market price benchmarks.

    ASUS emphasized that the adjustment is a “necessary decision made after long-term absorption of and responses to cost pressures,” with the goal of “ensuring stable supply and maintaining quality and service standards.” Regarding subsequent impacts, ASUS business representatives will proactively contact partners to provide detailed explanations and assist in planning the most appropriate response strategies or configuration recommendations.

    ASUS’s public relations department has confirmed the authenticity of the document, while clarifying to the media that it is an internal commercial communication intended solely for channel partners, rather than an official press release issued to the public.

    A new batch of works enters the public domain

    On January 1, 2026, the world marked its annual milestone for copyright expiration. Works by renowned figures such as Freud, Einstein, and Toynbee entered the public domain across jurisdictions including the United States, Europe, and China.

    In the United States, with the expiration of copyright protection for works published in 1930, books such as William Faulkner’s As I Lay Dying and Sigmund Freud’s Civilization and Its Discontents, as well as films like All Quiet on the Western Front, entered the public domain. Paintings by Piet Mondrian and Paul Klee, the original “Betty Boop” doll, and Disney’s earliest depiction of Pluto (then known as Rover) are also no longer subject to copyright restrictions, making derivative creations based on these early materials possible.

    In jurisdictions that apply a copyright term of “the author’s lifetime plus 70 years,” such as the European Union, the United Kingdom, and Russia, works by authors who died in 1955 have now reached the end of their protection period. This means that works by physicist Albert Einstein, Dale Carnegie—the author of How to Win Friends and Influence People—and Nobel Prize–winning writer Thomas Mann are no longer protected by copyright in these regions.

    In jurisdictions that apply a copyright term of “the author’s lifetime plus 50 years,” including China and most parts of Asia and Africa, works by authors who died in 1975 have reached the end of their protection period. This includes figures such as Chiang Kai-shek, historian Arnold J. Toynbee, Soviet composer Dmitri Shostakovich, and political philosopher Hannah Arendt.

    BYD surpasses Tesla to become the world’s top EV seller in 2025

    According to The New York Times, Tesla lost its position as the world’s largest electric vehicle manufacturer in 2025, being surpassed by BYD for the first time. Data released on December 31 show that Tesla’s annual deliveries fell 9% year on year to 1.64 million vehicles, with fourth-quarter sales plunging 16% due to policy impacts. In contrast, BYD’s annual sales of pure electric vehicles rose 28% to 2.26 million units, and the company achieved significant expansion across Asia, Europe, and Latin America thanks to its pricing advantage.

    Tesla’s sales decline was primarily driven by a sharp shift in U.S. policy. Despite Elon Musk’s strong support for Donald Trump in the 2024 election, after Republicans regained control of the White House and Congress, they swiftly repealed the federal EV tax credit of up to $7,500 and began rolling back clean air regulations. As the dominant player holding about 45% of the U.S. EV market, Tesla became the biggest casualty of these policy changes, with fourth-quarter deliveries dropping sharply from 496,000 a year earlier to 418,000 units.

    Beyond the deteriorating external environment, Tesla’s own lagging product updates were also a key factor. Its flagship Model Y has seen no major refresh since its launch in 2020, while the newly introduced Cybertruck has delivered disappointing sales. In the European market, Tesla’s sales have already been overtaken by Volkswagen. In addition, Musk has shifted the company’s focus toward robotaxis and humanoid robots, which have yet to generate meaningful revenue, and Tesla has fallen behind Alphabet-owned Waymo in the deployment of autonomous driving.

    Industry analysts predict that the U.S. EV market will remain sluggish in 2026, with a recovery unlikely until 2027, when more low-cost models priced below $30,000 enter the market. Despite weak vehicle sales, Tesla’s stock price remains near historical highs, as Wall Street continues to bet on its long-term potential in autonomous driving. Meanwhile, although BYD is unable to enter the U.S. market due to high tariff barriers, it has firmly established its leadership in the rest of the world.

    Rumors You Can Just Glance At

    • Recently, multiple Reddit users complained that Duolingo was displaying subscription ads through its real-time events feature, a practice prohibited by App Store review guidelines and one that could potentially lead to removal from the store. Duolingo later appeared to have stopped showing the ads.
    • According to official data from Stack Overflow, the site added only 3,862 new questions in December 2025, a figure that has fallen below the level seen in August 2008, shortly after the platform’s launch.
    • Internal Meta documents reviewed by Reuters show that in response to pressure from global regulators cracking down on scam ads on social media, Meta developed a set of countermeasures known as the “Global Playbook.” The documents reveal that rather than fully verifying advertisers’ identities or eliminating scams, Meta made it harder for regulators to discover violating ads by manipulating search results in order to pass compliance reviews. For example, in Japan, Meta teams found that regulators searched public ad libraries using specific keywords such as celebrity names to identify scam ads. Ahead of regulatory reviews, Meta selectively cleaned up search results related to those keywords, creating the impression that scam ads had been significantly reduced. In addition, when regulation was tightened in one region, algorithms would automatically divert scam ad traffic to other regions with looser oversight. Previously, Meta had faced tough questioning from governments in Japan, Singapore, and elsewhere over the proliferation of investment scams and AI-generated fake celebrity endorsement ads on Facebook and Instagram.
    • On the evening of January 3, Lei Jun revealed during a New Year livestream that Xiaomi’s original vehicle delivery target for 2025 had been set at 300,000 units, later raised to 350,000, and ultimately surpassed 410,000 units. He also announced that Xiaomi’s vehicle delivery target for 2026 is 550,000 units. During the four-hour livestream, Lei Jun and his engineering team completely disassembled a YU7. After the teardown, Lei Jun addressed a series of recent public controversies surrounding Xiaomi Auto. Regarding marketing claims such as “1,300 kilometers on a single charge” and “instant braking from 200 km/h,” Lei Jun said these statements originated from driving demonstration videos meant to showcase the SU7’s range and braking performance, with full videos available as evidence, but were taken out of context during dissemination. He also acknowledged that “fine-print marketing” is a bad industry practice, accepted the criticism, and said that since November last year he has required business teams to use larger, clearer text whenever possible.
  • SSPAI Morning Brief: Withdrawals Over 50,000 Yuan Will No Longer Require Registration

    SSPAI Morning Brief: Withdrawals Over 50,000 Yuan Will No Longer Require Registration

    Morning Highlights

    1. Withdrawals Over 50,000 Yuan Will No Longer Require Registration
    2. Airbus Issues Emergency Recall for Around 6,000 A320 Aircraft, Rolls Back Software Upgrade
    3. Regulators Reiterate Crackdown on Cryptocurrency Trading
    4. JD.com Announces Jingdou Rule Changes Starting in 2026
    5. Beijing Revises Non-Motor Vehicle Regulations, Special Plates Coming for Delivery and Courier Bikes
    6. Tesla Sells Only 100 Cars in India After Four Months
    7. Rumors You Can Just Glance At

    Withdrawals Over 50,000 Yuan Will No Longer Require Registration

    On November 28, the People’s Bank of China, the National Financial Regulatory Administration, and the China Securities Regulatory Commission jointly released the Measures for the Administration of Customer Due Diligence and the Preservation of Customer Identity Information and Transaction Records by Financial Institutions, which will take effect on January 1, 2026. The Measures serve as one of the supporting regulations for the new Anti-Money Laundering Law that came into effect on January 1 this year. The law reflects a shift in regulatory philosophy from formalistic compliance to a risk-based approach, requiring financial institutions to adopt due diligence measures commensurate with the level of money-laundering risk.

    Compared with the 2022 version, the new version abolishes the former Article 10, which had stated that “when providing cash deposits or withdrawals of over 50,000 yuan in RMB or over 10,000 USD equivalent in foreign currency for individual customers, financial institutions shall identify and verify the customer’s identity and understand and record the source or purpose of funds.” Although the old provision was suspended shortly after publication due to public controversy and never formally took effect, many banks in practice still treated it as a de facto guideline.

    The new version also adds that “for situations involving lower risks of money laundering or terrorist financing, simplified due diligence measures may be taken as appropriate” (§3). Correspondingly, the new rules supplement the simplified due diligence section by specifying that products or services such as “accounts serving only social security or housing provident fund functions, and policy-based or mandatory insurance products” may be considered low-risk factors when assessing the risk of money laundering or terrorist financing (§29).

    However, the new version tightens requirements for one-off financial services such as cash remittance, cash exchange, bill redemption, physical precious metals trading, and the sale of financial products. For any such transaction amounting to over 50,000 yuan in RMB or over 10,000 USD equivalent, financial institutions must retain copies or images of valid identity documents (§9). The previous version required this only for customers who did not hold an account at the institution.

    In recent years, banks excessively questioning customers about the purpose of deposits or withdrawals has repeatedly sparked public concern. For example, on November 11 this year, CCTV reported that at a China Construction Bank branch in Dongying, Shandong, a lawyer attempting to withdraw 40,000 yuan was aggressively interrogated by the teller about the purpose of the withdrawal and the reasons for previous incoming transfers. When he challenged the questioning, bank staff threatened to call the police. The lawyer ultimately abandoned the withdrawal and left. Similarly, on November 28, 2024, a customer at an Agricultural Bank of China branch in Shenyang attempted to withdraw 5,000 yuan but was told that her husband must be present to prove their marital relationship.

    Airbus Issues Emergency Recall for Around 6,000 A320 Aircraft, Rolls Back Software Upgrade

    According to Reuters, on November 28, Airbus issued an emergency directive requiring the immediate recall and repair of roughly 6,000 A320-series aircraft worldwide (including the A319, A320, and A321)—more than half of all such aircraft currently in service globally. The large-scale recall stems from the investigation of a recent flight incident, in which technicians discovered that intense solar radiation could corrupt critical flight-control system data, creating a safety hazard. Both the European Union Aviation Safety Agency (EASA) and the U.S. Federal Aviation Administration (FAA), the primary certification bodies, have issued emergency airworthiness directives mandating that affected aircraft be grounded until repairs are completed.

    The safety risk traces back to a JetBlue incident on October 30 of this year. During a flight from Cancún to New Jersey, the aircraft suddenly lost altitude, injuring passengers, before making an emergency landing in Florida. Investigations revealed that strong solar flare activity had interfered with the aircraft’s Elevators and Ailerons Computer (ELAC), causing an abrupt uncommanded descent. The current fix involves rolling the software back to an earlier version, requiring about two hours per aircraft. However, industry sources indicate that more than 1,000 aircraft may require more complex hardware replacements.

    This incident marks one of the largest recalls in Airbus’s 55-year history and comes during peak holiday travel in Europe and the United States, already straining global airline capacity. Major carriers—including American Airlines, Lufthansa, Air France, and Air New Zealand—have begun grounding affected aircraft for inspection, resulting in delays and cancellations. Analysts note that widespread labor shortages and tight aircraft availability in the aviation maintenance sector make such rapid, large-scale unplanned repairs extremely challenging.

    The A320 family recently surpassed the Boeing 737 to become the most-delivered commercial jet in history and remains a core workhorse of China’s civil aviation fleet. Chinese airlines operate large A320 fleets, and Airbus maintains a final assembly line in Tianjin. Although no detailed information has been released regarding how many domestic aircraft are affected, the high number of A320s in China suggests there may be downstream impacts on flight scheduling.

    Regulators Reiterate Crackdown on Cryptocurrency Trading

    According to Caixin, on November 28, the People’s Bank of China convened a meeting of the joint working mechanism for cracking down on cryptocurrency trading and speculation, attended by leaders from fourteen government ministries.

    The meeting emphasized that cryptocurrencies do not possess the same legal status as fiat currency, lack legal tender attributes, and must not—and cannot—be used as currency in the market. Activities related to cryptocurrencies constitute illegal financial activities. Stablecoins are a form of cryptocurrency and currently cannot meet requirements in areas such as customer identification and anti-money laundering. They carry risks of being used for illegal activities such as money laundering, fundraising fraud, and unlawful cross-border capital transfers.

    The meeting noted that recently, influenced by various factors, speculative cryptocurrency trading has resurged, and related illegal activities continue to occur, presenting new risks and challenges for regulatory oversight. Officials called for continued adherence to prohibitive policies on cryptocurrencies and sustained crackdowns on illegal financial activities involving digital assets.

    Previously, on September 24, 2021, the People’s Bank of China and nine other agencies jointly issued the Notice on Further Preventing and Handling the Risks of Cryptocurrency Trading and Speculation, which clearly stated that cryptocurrencies do not have the same legal status as fiat currency. Activities related to cryptocurrencies—including overseas crypto exchanges providing services to Chinese residents via the internet—are considered illegal financial activities. Any legal entity, organization, or individual engaging in cryptocurrency investment or derivatives trading in violation of public order and good customs will have the related civil acts deemed invalid, and associated losses must be borne by the parties themselves. Activities suspected of disrupting financial order or endangering financial security are subject to investigation and punishment by relevant authorities.

    Since July this year, cities including Shenzhen, Beijing, Suzhou, and regions such as Zhejiang have issued frequent risk alerts, warning the public against illegal fundraising and scams disguised under new concepts such as stablecoins and crypto assets. Regulators have repeatedly stated their intention to continue cracking down on cryptocurrency trading.

    JD.com Announces Jingdou Rule Changes Starting in 2026

    On November 28, JD.com announced that it will adjust the rules for “JD Beans” starting at 00:00 on January 1, 2026. JD Beans are reward points given to users based on their shopping, reviews, posts, and other activities on the platform. The program was launched in October 2013. When making purchases, 100 JD Beans can be used to offset 1 RMB, but the deduction cannot exceed 50% of the order’s settlement amount.

    Under the new rules, the validity period of JD Beans will be shortened—from the current “valid until the end of the next calendar year” to a maximum of 180 days. Specifically, JD Beans earned through regular shopping, reviews, and posting photos will each have a validity period of 180 days. Beans earned through specific promotional events will have a validity period ranging from 1 to 180 days, depending on the event’s stated rules. If an order is canceled or returned after sale and the JD Beans used for deduction have already expired, they cannot be restored. Before the new validity policy takes effect, all existing unexpired JD Beans will retain their original validity period.

    Beijing Revises Non-Motor Vehicle Regulations, Special Plates Coming for Delivery and Courier Bikes

    On November 28, the Standing Committee of the Beijing Municipal People’s Congress voted to approve the newly revised Beijing Non-Motorized Vehicle Management Regulations, which will take effect on May 1, 2026. This marks the first revision of the regulations in seven years.

    The full text of the new regulations has not yet been released. According to media reports, the revision clarifies the categories of non-motorized vehicles permitted on the road, prohibits scooters and balance boards from road use, and emphasizes that no competitive or large-scale cycling activities may occupy public roads without approval. The age limit for minors riding as passengers on electric bicycles has been adjusted from under 12 to under 16 years old, and both riders and passengers are required to wear helmets. The regulations also specify rules for greenways and riverside walking paths.

    Regarding parking, the new regulations stipulate that parking facilities for non-motorized vehicles should primarily be built as supporting facilities, supplemented by independent construction and temporary setups. Where existing facilities are insufficient, they must be expanded or temporary parking zones must be established, and entities are encouraged to open internal parking facilities to the public. The regulations also include charging and battery-swap facilities within infrastructure planning and, in line with recently revised fire safety regulations, further emphasize the prohibition on bringing electric bicycle batteries into residential buildings.

    The new regulations require electric bicycles used for internet-based rental services or for delivery work in courier and food-delivery sectors to be issued special license plates. Internet-rental e-bikes are brought under industry regulation. The revision also clarifies the responsible regulatory departments for new business models. Courier companies, e-commerce platform operators, and other relevant businesses that rely on non-motorized vehicles for delivery services must fulfill safety management obligations and optimize algorithmic rules as required.

    Tesla Sells Only 100 Cars in India After Four Months

    According to BBC, dealership data shows that since Tesla’s high-profile entry into the Indian market this July, the company has sold only around 100 cars. Of the roughly 600 orders received before mid-September, the actual delivery conversion rate was extremely low. Due to steep import duties, Tesla’s entry-level models cost more than 6 million rupees (about 474,500 RMB) in India, far higher than the roughly 2.2 million rupees (about 174,000 RMB) price point of mainstream local EVs.

    Despite the weak start, Tesla recently opened its largest sales and service center in India, located in the northern city of Gurugram. The company also appointed a new head of India operations and introduced a three-pronged strategy focused on increasing EV adoption, expanding the charging network, and improving customer experience. In response to concerns over the high prices, the new executive said that although models like the Model Y require a larger upfront investment, owners can save about 2 million rupees (around 158,200 RMB) over four years through reduced fuel and maintenance costs, and that over-the-air software updates will further lower the total cost of ownership throughout the vehicle’s life cycle.

    Tesla faces additional challenges in India. Currently, EVs account for less than 3% of total passenger car sales, and the country has only around 25,000 public chargers, indicating severe infrastructure gaps. Meanwhile, competitors such as BYD, BMW, and Mercedes-Benz have recently posted strong sales thanks to festival-season demand and tax incentives. Although the Indian government introduced an incentive policy last March aimed at encouraging global automakers to localize production, Elon Musk continues to favor a light-asset strategy centered on imports.

    Beyond India, Tesla’s global performance has also come under pressure. Due to rising tariffs and increased R&D spending, Tesla’s third-quarter profit fell 37% year-over-year. While quarterly revenue hit a new high, Tesla is facing slowing demand in its core mature markets of Europe, China, and the United States.

    Rumors You Can Just Glance At

    • According to X user Tibor, the ChatGPT Android app (version 1.2025.329 beta) contains multiple code references related to advertising features, including mentions of “bazaar content,” “search ad,” and “search ads carousel” placements.
    • According to Caixin, citing several Baidu employees, multiple departments across Baidu’s business lines began layoffs last week, with layoff ratios ranging from 10% to 25%, and some departments nearing 30%. This marks the company’s largest round of layoffs in recent years, exceeding typical year-end adjustments. With signing compensation included, severance packages can reach up to N+3.5 (years of service plus 3.5 months of salary). Many employees believe that the internal adoption of AI tools and the business-model shifts brought by AI are key drivers behind this round of layoffs.
    • According to The New York Times, despite inflationary pressures and economic uncertainty, U.S. consumers demonstrated strong purchasing power during Black Friday 2025, with online spending hitting record highs. Adobe Analytics data shows that online spending on Friday reached $11.8 billion, a 9.1% increase over last year; Thanksgiving Day online spending reached $6.4 billion. According to Mastercard SpendingPulse, online sales jumped 10.4%, while brick-and-mortar retail saw a modest 1.7% increase. Apparel and jewelry were among the hottest categories. However, consumer behavior showed clear signs of caution and polarization, with shoppers placing more emphasis on cost-effectiveness. Additionally, roughly half of total U.S. consumer spending came from the top 10% of households by income, partially masking the consumption downgrade among lower-income groups.