Black Friday: Shoppers Brave Economic Wobbles for Deals

Economic Concerns Don't Dampen Holiday Spending Spirit

The U.S. economy is experiencing some turbulence, but this isn't deterring shoppers from preparing for Black Friday. Despite concerns over tariffs and a recent decline in consumer confidence, people are still eager to open their wallets.

Retailers Feel the Tariff Pinch

Companies are grappling with the impact of tariffs on imported goods. Some have decided to absorb these additional costs rather than pass them on to customers. Instead, they've slowed down hiring. Despite these economic uncertainties, major retailers like Walmart and Best Buy have reported strong sales. However, shoppers are being more selective, focusing on the best deals.

Shoppers Adapt to Tariff Squeeze

Take Aron Boxer, for instance. He's postponing his car purchase due to tariff worries. He plans to hunt for toy deals on Cyber Monday but is also willing to wait for the best discounts. He's not alone in feeling the tariff squeeze.

Malls See Increased Foot Traffic

Malls are experiencing a surge in foot traffic, even more than before the pandemic. The Mall of America is kicking off Black Friday with giveaways to early birds. The National Retail Federation predicts holiday sales will reach between $1.01 trillion and $1.02 trillion, a notable increase from last year.

Online Shopping Thrives

Online shopping has also seen a significant boost, with a 7.5% increase in sales from last year. Tariffs have altered how stores stock and price their goods. Many brought in holiday merchandise early to avoid extra costs. Nevertheless, some of those costs have trickled down to shoppers, particularly on toys.