2022-11-24 23:12:27

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

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CNBC
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

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