Economists Predict Strong Holiday Sales Despite Waning Black Friday Interest

Economists Predict Strong Holiday Sales Despite Waning Black Friday Interest

Economists Predict Strong, Holiday Sales Despite , Waning Black Friday Interest.br 'Forbes' reports that over half of shoppers in the br United States are expected to skip this year's Black br Friday sales, looking for better deals amid high inflation.br Deal-hungry consumers will play br a game of chicken with retailers br this year. They’ll wait till later in br the season for retailers to yield and br give them even deeper discounts, Pamela Danziger, 'Forbes' senior contributor br for luxury retail, via 'Forbes'.br According to 'Forbes,' Black Friday deals have br been losing momentum for the past several years, br as some holiday sales can now start as early as July. .br Oversaturation, which includes Cyber Monday br and Christmas in July, has reduced br the significance of Black Friday sales. .br A significant share of shoppers br familiar with Black Friday sales br events are skeptical that the br discounts offered are genuine, Pamela Danziger, 'Forbes' senior contributor br for luxury retail, via 'Forbes'.br Given the less-than-enthusiastic br interest in Black Friday shopping br this year, shoppers are likely to br wait it out, expecting retailers to br make more attractive bargains br available later in the season, Pamela Danziger, 'Forbes' senior contributor br for luxury retail, via 'Forbes'.br According to National Retail Federation reports, br holiday sales are still estimated to rise br over 3 from 2022, reaching $957 billion.br Economists have been predicting all br year that a spending slowdown was br on the horizon, but consumers have br turned out to be more resilient br than most forecasters expected, Joan Verdon, 'Forbes' retail contributor, via 'Forbes'.br Most of the early holiday spending forecasts thus far have ranged from cautiously optimistic to upbeat, Joan Verdon, 'Forbes' retail contributor, via 'Forbes'.br A recent Deloitte report points out that a 3 br to 4 increase in holiday sales would propelbr 2023 beyond pre-pandemic spending figures.


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Uploaded: 2023-11-22

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