Inflation gobbling Black Friday savings

Black Friday sales shoppers
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Stores are offering 20, 30, or even 70% off of everything from blenders to TVs, but many items will end up costing more than last year.

From September through October, shoppers paid roughly 18% more for furniture and appliances than they did a year ago, according to a report by analysts at DataWeave. Toy prices were about 2% higher. But clothing prices dropped, DataWeave reported, and consumers paid nearly 5% less during the same period compared to last fall.

Have shopping habits changed? Third-quarter earnings from major retailers like Kohl’s, Target, and Macy’s all noted that shoppers slowed their spending in the past few weeks.

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Last year, many shoppers started their shopping in early October—wary of supply-chain delays after the pandemic. But the latest government retail sales report shows retail sales rose last month compared to the previous one, even adjusting for inflation. So, even though consumers have slowed compared to last year, sales picked up compared to the month prior. 

This story originally appeared in WORLD. © 2022, reprinted with permission. All rights reserved.

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