After two years of heightened chaos and the heartbreak of the pandemic, this holiday shopping season is more normal. But higher grocery prices likely means...
because they could. Online sales from Thanksgiving through Cyber Monday were up 4% from the prior year, with Black Friday sales increasing only 2%, according to Adobe Analytics. The smaller increases matched the pre-pandemic pace.“There was nothing really new and exciting. No fever pitch or fear of missing out,” said Marshal Cohen, chief industry adviser at NPD Group. “We’re not even worried that packages aren’t going to be delivered on time.
Job availability and the economy were humming, and gasoline prices fell below a year ago – factors that normally would translate into disposable income. But for the majority of U.S. households, especially those in lower- and middle-income brackets, inflation still hurt the budget. Finally, more people feel comfortable about gathering and traveling this year, drawing spending away from gift buying, Cohen said. Consumers said they planned to buy fewer gifts this year, an average of nine versus 16 in 2021, according to a Deloitte survey.
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