Concerns over inflation have crept into the holiday season as shoppers and retailers prepare for the discounted shopping weekend that begins with Black Friday, the day after Thanksgiving.
Facing higher prices for food, gasoline, and other goods this year, many consumers are reluctant to spend extra money on gifts without a large sale, according to the Associated Press, and are being more selective about what they buy.
Stores such as Walmart, Target, and Amazon have included sales beginning in October, with an extra"prime day" from Amazon. However, Target reported that sales were down in October despite its discounts, according to Yahoo News.The National Retail Federation projects sales will continue to grow this year, not adjusted for inflation, but will be lower than the 13.5% growth seen last year.
Experts consider Black Friday weekend, which concludes with Cyber Monday, a key barometer of how much shoppers will spend during the holiday season, which represents about 20% of the retail industry’s annual sales.
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