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.
“I am shopping less,” Dalencia said, noting she will spend about $700 for holiday gifts this year, one-third less than last year. But some pandemic habits are sticking around. Many retailers that closed stores on Thanksgiving Day and instead pushed discounts on their websites to thin out crowds at stores are still holding onto those strategies, despite a return to normalcy.
Adobe Analytics expects online sales to be up 2.5% from Nov. 1 through Dec. 31, a slowdown from last year’s 8.6% pace when shoppers were uncertain about returning to physical stores.
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