2022-11-24 15:16:43

Holiday Shopping Kicks off With Inflation Dampening Spirits

Logo U.S. News & World Report
U.S. News & World Report
By Associated Press

By ANNE D'INNOCENZIO, AP Retail Writer

NEW YORK (AP) While Black Friday will mark a return to familiar holiday shopping patterns, uncertainty still remains.

The U.S. job market remains strong, consumer spending is resilient and inflation has been slowing. But elevated prices for food, rent, gasoline and other household costs have taken a toll on shoppers.

As a result, many are reluctant to spend unless there is a big sale and are being more selective with what they will buy in many cases, trading down to cheaper stuff and less expensive stores.

Shoppers are also dipping more into their savings, turning increasingly to buy now, pay later services like Afterpay that allow users to pay for items in installments, as well as running up their credit cards at a time when the Federal Reserve is hiking rates to cool the U.S. economy.

Such financial hardships could help drive shoppers to look for bargains.

Isela Dalencia, who was shopping for household essentials like detergent at a Walmart in Secaucus, New Jersey, earlier this week, said she's delaying buying holiday gifts until Cyber Monday the Monday after Thanksgiving when online sales rev up. Then, she will wait again until the week before Christmas to get the best deals, unlike last year when she started buying before Black Friday.

Continue read on usnews.com

Logo CNBC
Business / FinanceBy Melissa Repko2022-11-03 17:32:15
Key Points The trade group's outlook indicates a challenging holiday ahead for retailers. A year ago, consumers shopped early and spent more to secure gifts...

Logo CNN
EconomyBy Alicia Wallace2022-11-22 18:04:22
CNN Business — Inflation has weighed on Americans for much of this year. The Federal Reserve has taken action to bring down high prices, but at the potential...

Logo Nasdaq
Business / FinanceBy Go Banking Rates2022-11-09 22:00:13
Last year, consumers were faced with empty shelves during the holidays due to supply chain issues. This year, inflation is the top challenge to holiday...

Logo Benzinga
Business / FinanceBy Pr Newswire2022-11-21 12:30:00
Shopping around the Thanksgiving holiday set to be strong for retailers as resilient consumers find ways to keep the season merry and bright NEW YORK, Nov....

Logo PR Newswire
Shopping around the Thanksgiving holiday set to be strong for retailers as resilient consumers find ways to keep the season merry and bright NEW YORK, Nov....

Logo Nasdaq
Business / FinanceBy The Motley Fool2022-11-19 13:32:25
Image source: Getty Images The holiday season brings in big bucks for most retailers, with Americans spending billions on Black Friday alone. Most companies...

Logo Investing.com
EconomyBy Bloomberg2022-11-23 17:18:17
(Bloomberg) -- The recent wave of relief across the retail industry is giving way to a sense of foreboding ahead of Black Friday and the holiday shopping...

Logo GlobeNewswire
EconomyPress Release2022-11-15 10:00:00
Consumers aim to stick to budget while shopping more in-store to support local businesses TORONTO, Nov. 15, 2022 (GLOBE NEWSWIRE) -- Consumers are certainly...

Logo Nasdaq
Business / FinanceBy Go Banking Rates2022-11-21 20:09:47
Soaring inflation in 2022 has convinced more than half of U.S. consumers to spend less this Black Friday compared to last year, according to a new survey...

Logo Nasdaq
Business / FinanceBy Go Banking Rates2022-11-09 17:39:26
Black Friday began as a one-day event but became a weeks-long holiday tempting consumers with a myriad of ads and deals. However, with inflation at a...

Logo Benzinga
Business / FinanceBy Pr Newswire2022-11-18 05:01:00
82% of Global Consumers Concerned About Rising Prices for Energy and Food 51% Cutting Back on Non-Essential Purchases and 39% Shopping More in Discount...

Logo Benzinga
Business / FinanceBy Business Wire2022-11-22 15:00:00
Seventy-five percent of consumers will pay full price for gifts the recipient really wants T hree-quarters of consumers are less likely to shop with...

Logo Nasdaq
Business / FinanceBy The Motley Fool2022-11-24 12:32:24
Image source: Getty Images Whether you have an extensive holiday shopping list or you have a bunch of items you want to purchase for yourself, you may be...

Logo Nasdaq
Business / FinanceBy Go Banking Rates2022-11-03 16:51:49
If theres one thing finance experts agree on this holiday season, its shopping early to get the best deals. And even if you arent planning to buy...

Logo Nasdaq
Business / FinanceBy Go Banking Rates2022-11-15 16:00:22
Doorbusters, Black Friday, Cyber Monday and giant shopping events: With holiday items hitting shelves before you've even decided on a Halloween costume and...

Logo PR Newswire
82% of Global Consumers Concerned About Rising Prices for Energy and Food 51% Cutting Back on Non-Essential Purchases and 39% Shopping More in Discount...

Logo Nasdaq
Business / FinanceBy Go Banking Rates2022-11-03 18:00:25
Every year, you have the intention of not waiting until the last minute to do holiday shopping, and every year, you somehow find yourself looking for...

Logo Daily Mail
Business / FinanceBy Camilla Canocchi2022-11-04 10:31:14
Retailers face a tough Christmas ahead after the number of shoppers visiting stores and items sold slowed down sharply last month, just as energy bill rises...

Logo Nasdaq
Business / FinanceBy Go Banking Rates2022-11-08 15:06:59
Many American families have had to tighten their financial belts in 2022 because of inflation and soaring costs, particularly for gas and energy. But...

Logo CNBC
Business / FinanceBy Melissa Repko2022-11-04 14:40:16
Key Points Travel demand has surged this year, even as Americans pay higher airline fares. The holiday season will test consumers' spending priorities,...