Inflation hovers over shoppers seeking Black Friday deals

Customers shop in a nearly-empty Macy’s early on Black Friday,...

By ANNE D’INNOCENZIO, HALELUYA HADERO and ALEXANDRA OLSON

NEW YORK — Shoppers hunted for the best deals at stores and online as retailers offered new Black Friday discounts to entice consumers eager to start buying holiday gifts but weighed down by inflation.

Due to elevated prices for food, rent, gasoline and other essentials, many people were reluctant to spend unless there was a big sale.

Shoppers were being more selective, selecting cheaper options, dipping more into savings and turning to “buy now, pay later” services that allow payment in installments. Some were also running up their credit cards at a time when the Federal Reserve is hiking rates to cool the U.S. economy.

Sheila Diggs, 55, went to a Walmart in Mount Airy, Maryland early Friday looking for a deal on a coffee maker and to see what else was in the aisles. She said her family is being more cautious about their holiday spending this year. Usually, all the adults in the family would exchange gifts. But this year, everyone is drawing names and selecting one person, because things cost so much more, she said.

“Everything’s going up but your paycheck,” said Diggs, who manages medical records at a local hospital.

Customers shop in a nearly-empty Macy’s early on Black Friday, Nov. 25, 2022, in New York. (AP Photo/Julia Nikhinson)

Customers shop in an Apple store on Black Friday, Nov. 25, 2022, in New York. (AP Photo/Julia Nikhinson)

Customers shop in a nearly-empty Macy’s early on Black Friday, Nov. 25, 2022, in New York. (AP Photo/Julia Nikhinson)

An employee sets up a display, outside a clothing stores advertising sales ahead of Black Friday and the Thanksgiving holiday, Monday, Nov. 21, 2022, in Miami. Retailers are ushering in the start of the holiday shopping season on the day after Thanksgiving, preparing for the biggest crowds since 2019. (AP Photo/Rebecca Blackwell)

  Reports: Serbia names pro-Russian politician new spy chief

Shoppers exit a Claire’s accessories store advertising sales ahead of Black Friday and the Thanksgiving holiday, Monday, Nov. 21, 2022, in Miami. Retailers are ushering in the start of the holiday shopping season on the day after Thanksgiving, preparing for the biggest crowds since 2019. (AP Photo/Rebecca Blackwell)

Customers shop in a nearly-empty Macy’s early on Black Friday, Nov. 25, 2022, in New York. (AP Photo/Julia Nikhinson)

The reflections of passing shoppers are seen in the glass of a Hollister clothing store advertising sales, ahead of Black Friday and the Thanksgiving holiday, Monday, Nov. 21, 2022, in Miami. Retailers are ushering in the start of the holiday shopping season on the day after Thanksgiving, preparing for the biggest crowds since 2019. (AP Photo/Rebecca Blackwell)

Show Caption

of

Expand

This year’s trends are a contrast from a year ago when consumers were buying early out of fear of not getting what they needed amid supply-network clogs. Stores didn’t have to discount much because they were struggling to bring in items.

This year, shoppers are holding out for the best bargains, said Rob Garf, vice president and …read more

Source:: Los Angeles Daily News

(Visited 2 times, 1 visits today)

Leave a Reply

Your email address will not be published. Required fields are marked *