Experts are projecting record spending this weekend, with Black Friday kicking off the holiday shopping season.

Globally, shoppers are expected to spend around $75B, a 5% increase from last year.

The three big categories will be electronics, clothing, and beauty products — 81% of shoppers will be buying clothing or accessories, and 20% of shoppers will spend more than $1,000.

Household consumption, which includes the things we need and want at home, accounts for about 70% of the country's GDP.