Black Friday means deep discounts for shoppers — and intense pressure for retailers

by | Nov 25, 2022 | Business

Black Friday sign in retail store in Walnut Creek, California.Smith Collection/gado | Archive Photos | Getty ImagesMajor retailers are under intense pressure to deliver on Black Friday after several of them reported a slowdown in sales heading into the do-or-die holiday shopping season.These discounted e-commerce stocks could be winners this holiday season. Here’s whyThose results illustrate an emerging theme of this season: Shoppers are holding out for the biggest and best deals — especially as inflation hits their wallets.”People are willing to wait and be patient,” said Rob Garf, vice president and general manager of retail for Salesforce, a software company that also tracks shopping trends. “The game of discount chicken is back and consumers will ultimately win.”That big appetite for deals is fueling higher expectations for a bigger Black Friday weekend. Many major retailers, including Walmart and Target, will remain shuttered on Thanksgiving. Yet a record number of people — 166.3 million — are expected to shop during the weekend, which stretches from Thursday through Cyber Monday, according to an annual survey by the National Retail Federation and Prosper Insights & Analytics.That is up by nearly 8 million people than a year ago and the highest estimate since NRF began tracking the data in 2017.Retailers and industry watchers have been anticipating a more muted holiday season with sales driven more by higher prices than a huge appetite for goods. The National Retail Federation is predicting a 6% to 8% increase in sales, including the boost from nearly record-high levels of inflation.Travel and experiences are competing more fiercely for Americans’ wallets, too, as Covid-19 concerns fade.Retail executives that have reported earnings have spoken of a shift back to the pre-pandemic style …

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