ALL NEWS

Shoppers expected to spend on Black Friday, despite inflation

Nov 25, 2022, 10:00 AM
Black Friday isn't what it used to be. But many Americans are still expected to spend on the holida...
Many Americans are still expected to spend this Black Friday. (Photo by Paul Hennessy / SOPA Images/Sipa USA)
(Photo by Paul Hennessy / SOPA Images/Sipa USA)

(CNN) — Black Friday isn’t what it used to be. But many Americans are still expected to spend on the holiday.

Mastercard projects that sales will grow 15% on Black Friday compared with last year. Spending will be driven by shopping in stores, which was more muted last year due to a winter Covid-19 surge. In-store sales will grow 18% this year, Mastercard estimates.

“Expect Black Friday shopping to be in full force across channels this year,” Steve Sadove, senior advisor for Mastercard, said in a news release.

The holiday shopping season looks much different than it once did. Instead of doorbuster deals on Black Friday, retailers began their holiday sales in early fall. Amazon held a second Prime Day event in October this year, and Walmart, Target and others held competing savings events.

By spreading out their holiday deals online, retailers have reduced the draw of Black Friday in person.

But shoppers are returning to many of their pre-pandemic routines and retailers expect a more typical holiday season than the last two years in the pandemic. Shoppers are once again expected to buy around key holidays like Black Friday and also buy later in the season, hoping to land deals.

“Shoppers purchasing behavior appears to be more closely timed to holiday dates,” Dollar Tree finance chief Jeffrey Davis said on a call with analysts this week.

This year, inflation has squeezed many shoppers’ budgets. Retailers say customers are pulling back on discretionary spending like furniture and electronics and are being more selective about what they buy.

Lower and middle-income families in particular have been strained by inflation and have shifted their spending to groceries and paying for other daily essentials.

“More and more of their household budget goes towards the needs of the family, which limits the amount available for discretionary purchases,” Christina Hennington, Target’s chief growth officer, said earlier this month.

Chains are also overstocked on many categories and are offering more discounts than they did last year to clear out merchandise and entice shoppers to spend.

Overall, holiday sales are expected to grow this year, but at a slower pace than last year. Many shoppers will lean on savings and credit to afford gifts.

Holiday sales will increase by up to 8% this year, the National Retail Federation projects.

Today’s Top Stories

All News

false lockdown...
Devin Oldroyd

Lehi building placed on false lockdown after report of unconcealed gun

A Lehi building was placed on a false lockdown following a report of a man with an unconcealed firearm. There was determined to be no threat at the scene.
1 day ago
Holiday Police Pay-it-Forward event....
Waverly Golden

Salt Lake City Police Department hosts holiday Pay-it-Forward event

Salt Lake City Police Department along with SLC School District paired 50 children with a police officer for a holiday shopping experience.
1 day ago
This morning the Gary Sinise Foundation's Snowball Express made a pit stop at the new SLC Airport o...
Waverly Golden

Snowball Express arrives at Salt Lake City Airport

On Dec. 3 the Gary Sinise Foundation's Snowball Express made a pit stop at the new SLC Airport on its way to Orlando Walt Disney World. 
1 day ago
Four Dead University of Idaho...
Aya Elamroussi, CNN

Authorities swat down rumors surrounding unsolved killings of 4 University of Idaho students

Authorities in a small Idaho city that had not recorded a murder in years are urging the public to be vigilant against rumors and conjectures surrounding the unsolved killings of four college students last month.
1 day ago
A burrow is among the items an adopted desert tortoise needs. Photo by Utah Division of Wildlife Re...
Mia Alberti, Lianne Kolirin and Tara Subramaniam, CNN

Jonathan the tortoise, world’s oldest land animal, celebrates his 190th birthday

The South Atlantic island of St. Helena is celebrating the birthday of the world's oldest living land animal -- a Seychelles giant tortoise called Jonathan, who is turning 190.
1 day ago
Cam Rising losing his helmet (Photo Credit, Wally Skalij, LA Times)...
Amanda Dickson

Opinion: The long and winding road to the championship

Never give up, not on each other, the children, or life. We may be down, but never out. Keep fighting for the things we hold dear. We believe in each other.
1 day ago

Sponsored Articles

Spicy Homemade Loaded Taters Tots...
Macey's

5 game day snacks for the whole family (with recipes!)

Try these game day snacks to make watching football at home with your family feel like a special occasion. 
Happy joyful smiling casual satisfied woman learning and communicates in sign language online using...
Sorenson

The best tools for Deaf and hard-of-hearing workplace success

Here are some of the best resources to make your workplace work better for Deaf and hard-of-hearing employees.
Team supporters celebrating at a tailgate party...
Macey's

8 Delicious Tailgate Foods That Require Zero Prep Work

In a hurry? These 8 tailgate foods take zero prep work, so you can fuel up and get back to what matters most: getting hyped for your favorite
christmas decorations candles in glass jars with fir on a old wooden table...
Western Nut Company

12 Mason Jar Gift Ideas for the 12 Days of Christmas [with recipes!]

There are so many clever mason jar gift ideas to give something thoughtful to your neighbors or friends. Read our 12 ideas to make your own!
wide shot of Bear Lake with a person on a stand up paddle board...

Pack your bags! Extended stays at Bear Lake await you

Work from here! Read our tips to prepare for your extended stay, whether at Bear Lake or somewhere else nearby.
young boy with hearing aid...
Sorenson

Accommodations for students who are deaf and hard of hearing

These different types of accommodations for students who are deaf and hard of hearing can help them succeed in school.
Shoppers expected to spend on Black Friday, despite inflation