US Black Friday shoppers expected to spend less as cost of living bites
NegativeFinancial Markets
- US Black Friday shoppers are expected to spend less this year due to rising living costs, despite forecasts of record crowds during the crucial holiday sales period. This trend reflects a tightening of consumer budgets as inflationary pressures persist.
- The anticipated decrease in spending is significant for retailers, as Black Friday traditionally marks a peak in consumer activity. Lower spending could impact sales figures and overall economic health, raising concerns among businesses about consumer confidence and purchasing power.
- This development highlights broader economic challenges, including a recent decline in retail sales growth and consumer confidence, which has dropped to its second-lowest level since the pandemic. The ongoing budget deficit and market volatility further complicate the landscape, suggesting that consumers are increasingly cautious about their spending habits.
— via World Pulse Now AI Editorial System
