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Black Friday in the US is witnessing a trend of picky shoppers waiting for bigger bargains, posing a challenge for retailers. An estimated 182 million people are expected to shop from Thanksgiving Day through Cyber Monday, the highest since 2017, as per the National Retail Federation. Despite this, the growth in online sales is projected to be the slowest in at least five years, with just a 1% increase in November and December compared to last year, according to Salesforce Inc. Consumers, more price-conscious than before, are not impressed with current discount levels and are likely to wait for better deals. This cautious spending behavior could lead to a subdued holiday shopping season and impact retailers’ earnings. Data from Adobe Analytics and Mastercard also forecasts a sluggish shopping season, with consumers being very price-conscious and preferring deep discounts. The shift in consumer behavior is evident from the footfall in high-end malls like Westfield UTC in San Diego and Hudson Yards in New York, where stores offering significant discounts attracted more shoppers. #BlackFriday #cybermonday #HolidayShopping #Consumer #RetailSales #Ecommerce #creditcard #debt #ShoppingDiscounts #economy
Timestamps:
Black Friday Sales Hype 0:00
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