Cautious shoppers in US hunt for best deals as retailers offer new Black Friday discounts to entice consumers weighed down by inflation
The two-month period between Thanksgiving and Christmas represents about 20 percent of the retail industry's annual sales.
Some were dipping more into savings, turning to "buy now, pay later" services that allow payment in instalment, or running up their credit cards at a time when the Federal Reserve is hiking rates to cool the US economy. The traffic was "significantly larger" on Black Friday compared to the previous two years because shoppers feel more comfortable in crowds, Macy's CEO Jeff Gennette said.
Major retailers, including Walmart and Target, stuck with their pandemic-era decision to close stores on Thanksgiving Day, moving away from doorbusters and pushing discounts on their websites.Spike in online sales Black Friday saw some of the labour unrest that has rippled through the retail industry over the past year.
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