Black Friday marks a return to familiar holiday shopping patterns, but inflation is weighing on consumers.
“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. Against today’s economic backdrop, the National Retail Federation — the largest retail trade group — expects holiday sales growth will slow to a range of 6% to 8%, from the blistering 13.5% growth of a year ago. However, these figures, which include online spending, aren’t adjusted for inflation so real spending could even be down from a year ago.
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