A record 166.3 million shoppers are expected to hit the stores from Thanksgiving Day through Cyber Monday, with the average shopper set to spend more than $800. But this year inflation is looming large.
found that the number of shoppers who say the economy is having a big impact on their holiday plans reached 60%, the highest level since the Great Recession of 2008-2009.A record 166.3 million shoppers are expected to hit the stores from Thanksgiving Day through Cyber Monday, almost 8 million more than when the NRF began tracking data in 2017. The average shopper still plans to spend more than $800 on everything from gifts to decorations.
"Consumers want better prices so they're waiting on the sidelines," Krish Thyagarajan of DataWeave Analytics told."It's going to really boil down to whether the stores blink first or the retailers blink first." Many are also running up their credit cards at a time when the Federal Reserve is hiking rates to cool the U.S. economy. Credit card balances overallIsela Dalencia, who was shopping for household essentials such as detergent at a Walmart in Secaucus, New Jersey, earlier this week, told The Associated Press that she's delaying buying holiday gifts until Cyber Monday — the Monday after Thanksgiving — when online sales rev up.
"I am shopping less," Dalencia said, noting that she will spend about $700 for holiday gifts this year, one-third less than last year.
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