Almost 200 million Americans opened their wallets - 17 million more than 2021 - in uncertain economic times. But why?
Why are holiday shopping records being broken with more spending in retail online and in store with a looming recession? We spoke with an expert.Despite high inflation, mass tech layoffs, and a weak economic outlook, more Americans have opened their wallets and shopped this year than in previous years.
"It's been a rough couple of years," ," said Charles Lindsey, Associate Professor of Marketing, University at Buffalo School of Management. "People this year really want to celebrate, they want to indulge a little bit and there's a lot of what economists call pent up demand and that is really being reflected."
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