2022-11-24 23:12:27

U.S. shoppers alone in boosting Black Friday spend as cost-of-living crisis hits Europe

By Karen Gilchrist

Key Points

  • Black Friday may offer an opportunity to bag a bargain, but many shoppers will be expecting steeper discounts this year.
  • U.S. consumers are alone in planning to increase their spend this year, while European shoppers expect to cut back by as much as 18%, according to research.
  • The findings come as the global economic outlook darkens, particularly in the U.K., which is already in recession, and Europe more broadly.

Many shoppers say they plan to spend less this Black Friday as the cost-of-living crisis bites.

Richard Baker | In Pictures | Getty Images

Black Friday may offer an opportunity to bag a bargain ahead of the festive period, but many shoppers will be expecting retailers to cut prices by a greater margin this year as they tighten their belts amid a worsening cost-of-living crisis.

Shoppers in Europe plan to spend almost one-fifth less during this year's annual discount period as inflationary pressures weigh on consumer sentiment, according to research from Boston Consulting Group this month.

Continue read on cnbc.com

Logo Nasdaq
Business / FinanceBy Go Banking Rates2022-12-21 21:00:10
With winter come Black Friday sales, cabin fever and holiday spending, all of which can land you with some items you wish you hadn't bought come spring. It...

Logo Nasdaq
Business / FinanceBy Go Banking Rates2022-12-22 14:00:12
With inflation still soaring and a recession likely on the horizon, its a tough time for many Americans. During difficult financial periods, people are often...

Logo Nasdaq
Business / FinanceBy The Motley Fool2022-12-22 14:41:00
Online shopping has grown like gangbusters in the last decade. According to the e-commerce platform Shopify, 20.8% of global retail sales are expected to be...

Logo Nasdaq
Business / FinanceBy The Motley Fool2022-12-19 20:30:18
Image source: Getty Images There's a reason retail events like Black Friday and Cyber Monday tend to be popular with consumers. That's when you'll commonly...

Logo CNN
EconomyBy Alicia Wallace2022-12-22 18:35:42
Minneapolis CNN — Last year, bonuses were bountiful. This year, economic uncertainty is bringing a chill to the holiday-season perk, according to survey data...

Logo Nasdaq
TechnologyBy Zacks2022-12-22 13:00:00
As many as 113 million Americans are expected to travel during the Christmas holidays. This going to be one of the busiest holiday seasons probably in the...

Logo RTTNews
EconomyBy Rtt News Staff Writer2022-12-22 09:33:18
Sweden's retail sales continued its declining trend in November, as sales of both durable and consumer goods contracted, figures from Statistics Sweden...

Logo Finextra
TechnologyBy Finextra2022-12-20 16:30:35
The National Retail Federation (NRF) forecasts that 2022 holiday retail sales will grow between 6% and 8% over last year, and could reach $960 billion....

Logo Nasdaq
Business / FinanceBy Money Com2022-12-22 05:44:47
In 2022, it was estimated that retail e-commerce in the U.S. would generate about $905 billion. And with online retail sales in the country set to surpass...

Logo Nasdaq
Business / FinanceBy Go Banking Rates2022-12-21 13:00:32
The effects of inflation including higher grocery tabs, higher cooling and heating bills and higher prices at the pump put many Americans at a financial...

Logo Nasdaq
Business / FinanceBy Schaeffer2022-12-22 16:20:44
The last week of 2022 is quiet in terms of earnings, with only Cal-Maine Foods ( CALM ) scheduled to report. Investors will still have something to sift...

Logo The New York Times
Business / FinanceBy Niraj Chokshi2022-12-22 17:37:44
Holiday shoppers scrambling to order last-minute gifts, and those already patiently waiting for their packages to arrive, have another concern to check off...

Logo Bloomberg
PoliticsBy Max De Haldevang2022-12-22 12:15:18
Mexico’s inflation accelerated in line with expectations in early December after the effects of a shopping holiday the previous two weeks wore off, putting...

Logo Fortune
Business / FinanceBy Ivana Pino2022-12-22 16:57:00
1 in 3 U.S. adults received fake shipping notifications or experienced fraud buying a product through an ad online last year.

Logo BBC
PoliticsBy Https://Www Facebook Com/Bbcnews2022-12-21 22:49:50
Drivers have been warned Christmas traffic will be back at pre-pandemic levels with people taking to the roads to avoid the planned rail strikes. Traffic...

Logo Nasdaq
Business / FinanceBy Go Banking Rates2022-12-21 13:00:08
Inflation is making nearly every aspect of the holidays more expensive this year, from the gifts you give to the food you buy for holiday dinners to your...

Logo Finextra
TechnologyBy Finextra2022-12-21 10:05:38
With Christmas just around the corner and many consumers feeling the pinch of a rapidly worsening cost of living crisis, festive spending is already being...

Logo The Guardian
PoliticsBy James2022-12-22 12:00:35
Ive been living, like many people, in fuel poverty for many years. Blankets around my legs and hot-water bottles have become the norm during these dark...

Logo Daily Mail
Business / FinanceBy Archie Mitchell2022-12-21 21:51:02
Christmas will be a cut price affair for many families this year as the country struggles with the riding cost of living. But a lucky few for whom money is...

Logo Nasdaq
Business / FinanceBy The Motley Fool2022-12-22 14:30:11
Image source: Getty Images Rampant inflation has been with us since the mid-2021. And it's forcing consumers to make hard choices. For some, that's meant...