Science

Inflation looms large over shoppers heading for Black Friday

Black Friday marks a return to familiar holiday shopping patterns, but inflation is taking a toll on consumers.

The increased prices of food, rent, gasoline and other household costs have taken a toll on shoppers. As a result, some shoppers are reluctant to spend unless there’s a big sale, and are really selective with what they buy. Shopkeepers are also investing more in their savings, increasingly turning to “buy now, pay later” services And their credit cards are running out.

Isela Dalencia, who was at a Walmart New Jersey this week shopping for household essentials like detergent, said she’s delaying buying holiday gifts until Cyber ​​Monday. She plans to wait until a week before Christmas again to get the best deal.


Eye-opener: Americans kick off the holiday season with Black Friday shopping

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“I’m shopping less,” said Dalencia, adding she’ll spend about $700 on holiday gifts this year, a third less than last year.

Katie Leach, a social worker in New York City, was also browsing the aisles at Walmart, but said she would begin holiday shopping during the first week of December as usual. This time, however, she will rely more heavily on bargaining, her credit card and “buy now, pay later” services to get through the shopping season due to rising prices for food and other household expenses.

“The money isn’t going in as much as last year,” Leach said.


Black Friday, Cyber ​​Monday Shopping Tips

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closed on thanksgiving

This year’s shopping strategies are in stark contrast to a year ago, when consumers rushed to buy gifts for fear of missing out on what they needed amid supply chain disruptions. Stores didn’t have to discount as much last year as they struggled to bring items.

But some pandemic-borne habits have stuck around. Many retailers that closed stores on Thanksgiving Day and instead posted discounts on their websites to reduce crowds at stores are still sticking to those strategies even as normalcy returns. Major retailers including Walmart and Target are closed on Thanksgiving.

The National Retail Federation estimates that 115 million people plan to shop in stores and online on the traditional day of discount shopping this year, and an estimated 64 million are expected to shop. Cyber ​​Monday,

Against today’s economic backdrop, the federation expects holiday sales growth to slow to a range of 6% to 8%, or about $942 billion, up from a sharp 13.5% increase a year ago. Adobe Analytics expects online sales to increase 2.5% from November 1 to December 31, down from last year’s pace of 8.6%.

Retail analysts consider the five-day Black Friday weekend, which also includes Cyber ​​Monday, a key barometer of shoppers’ willingness to spend, especially this year. The two-month period between Thanksgiving and Christmas accounts for about 20% of the retail industry’s annual sales.

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