NEW YORK — Black Friday marks a return to familiar holiday shopping patterns, but inflation is weighing on consumers. Elevated prices for food, rent, gasoline and other household costs have taken a toll on shoppers. As a result, many are reluctant to spend unless there is a big sale and are being more selective with what they will buy — in many cases, trading down to cheaper stuff and less expensive stores. Shoppers are also dipping more into their savings, turning increasingly to “buy now, pay later” services like Afterpay that allow users to pay for items in installments, as well as running up their credit cards at a time when the Federal Reserve is hiking rates to cool the U.S.
Similar Stories to Inflation Hovers Over Shoppers Heading Into Black Friday on Bing News
Anne D'Innocenzio, Denver Post: Business
Fri, 11/25/2022 - 7:01am
Topics: york black elevated shoppers afterpay federal reserve isela dalencia secaucus new jersey christmas i katie leach the related articles denver colorado major target national retail federation adobe analytics nov dec analysts black dalencia walmart monday cyber monday thanksgiving leach business inflation year holiday stores shopping sales items weekend buying household online week spend time buy food crowds consumers return bargains expects prices spending gifts services credit retailers growth
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