Black Friday shoppers strategize at the Bass Pro Shops in Daytona Beach, Friday, Nov. 25, 2022. Black Friday07
Syndication: Daytona Beach News-Journal
NEW YORK (AP) — Black Friday marks a return to familiar holiday shopping patterns, but inflation is weighing on consumers. Elevated prices for food, rent, gasoline and other household costs have taken a toll on shoppers. As a result, many are reluctant to spend unless there is a big sale and are being more selective with what they will buy — in many cases, trading down to cheaper stuff and less expensive stores. Shoppers are also dipping more into their savings, turning increasingly to “buy now, pay later” services that allow users to pay for items in installments. They are also running up their credit cards at a time when the Federal Reserve is hiking rates to cool the U.S. economy.
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