Holiday shoppers will see bargains. but many are trimming their spending plans, which might mean a bumpy season for retailers and the U.S. economy.
While you’re shopping for gifts and considering Giving Tuesday donations, bear in mind that scammers and fraudsters want to take advantage.in recent memory, with sales that will struggle to top the record-setting levels of the last few years. Apparel companies across the board are conservative about expectations for the fourth quarter, citing an uncertain environment and declining sales activity in late October and early November.
Overall spending this holiday season is seen growing 2.5% from a year ago, compared with 8.6% last year and a whopping 32% in 2020, according toThose figures aren’t adjusted for inflation, meaning that sales could be down by volume. “We have been seeing a real bifurcation between our brands and the consumers that shop our brands,” Abercrombie Chief Executive Fran Horowitz said in an interview. “Mid-second quarter really saw the Hollister customer stepping back. This year they were definitely pressured by inflation controlling what they’re choosing to spend on.”Drugstores are locking up more products, frustrating shoppers. The Times surveyed stores and found vastly different approaches to preventing theft.
“Higher-income households saved more than others and are far less sensitive to rising prices,” Moody’s Investors Service analysts said in a report, noting that the top 40% of the income distribution has 4.5 times more savings than they held prior to the pandemic. “As a result of their wealth buffer, they have continued to spend, especially on services like leisure and travel.”
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