As inflation continues to weigh on consumers, a record 183.4 million shoppers are anticipated to participate in this year's Black Friday sales. With online sales projected to reach $7.9 billion, bargain-hunting has become increasingly prevalent.
Lower-income households are benefiting from rising incomes, yet many remain vigilant about spending due to persistent elevated prices. Major retailers like Walmart and Target are responding by offering substantial discounts and exclusive products to attract shoppers.
The holiday shopping season is notably shorter this year, thanks to a late Thanksgiving, prompting consumers to start their shopping earlier. While inflation has led to mixed spending outlooks, many Americans are expected to spend record amounts this holiday season, with an average of $902 per person.
The impact of inflation is also felt in the rising costs of everyday items, especially food. Despite these challenges, the tradition of Black Friday persists, marking it as a vital period for retailers as they aim to boost sales and engage shoppers both in-store and online.
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