Black Friday Finds Picky US Shoppers Waiting for Bigger Bargains.

Black Friday sales in the US indicate that consumers are being cautious with their spending and waiting for better discounts, which could result in a subdued holiday shopping season and potentially lower earnings for retailers. Estimates suggest that online sales in November and December will only grow by 1% compared to the previous year, the slowest growth in at least five years. Shoppers have expressed disappointment with the discounts offered on Black Friday and are likely to hold out for better sales. However, retailers have managed their inventory better this year, reducing the pressure to move excess merchandise. Various data companies are predicting a sluggish holiday shopping season, with online revenue growth expected to be 4.8% compared to the previous year. Consumers are becoming more price-conscious, and preliminary data shows that online sales on Black Friday increased by 7.4% from last year, largely due to deep discounts on products like toys, apparel, and computers. While different data companies track different transactions, they all indicate a similar trajectory of slower growth. Despite the cautious spending, many shoppers still turned out on Black Friday to start their holiday shopping. Personal savings have decreased from pandemic highs, and while inflation is moderating, many items are still more expensive than before. Higher interest rates are also affecting the affordability of homes and cars, forcing consumers to make trade-offs. However, some of the consumer pullback is considered a return to a more normal pace of shopping after the unpredictable experiences of recent years. Unemployment remains low, and consumers still have the [Extracted from the article]