As the official holiday shopping season kicks off this Black Friday, consumers will be more price-conscious and hunt for promotions and deals online rather than in brick-and-mortar stores.
NATIONWIDE — As the official holiday shopping season kicks off this Black Friday, consumers will be more price-conscious and hunt for promotions and deals online rather than in brick-and-mortar stores, according to several retail reports.
"While there is much speculation about inflation's impact on consumer behavior, our data tells us that this Thanksgiving holiday weekend will see robust store traffic with a record number of shoppers taking advantage of value pricing," said Matthew Shay, the president and CEO of the NRF. "We are optimistic that retail sales will remain strong in the weeks ahead, and retailers are ready to meet consumers however they want to shop with great products at prices they want to pay.
The NRF expects holiday sales during November and December to grow 8% to $960.4 billion year-over-year, shattering last year's $889.3 billion holiday spending records.
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