Share to Twitter Share to Linkedin Key takeaways Many retailers warned of a weak holiday sales period due to high inflation. Online sales were up 2.3% compared to 2021, with $9.12 billion spent online. Inventory levels are still a concern with many retailers, we have to wait and see which retailers won and lost at earnings time. Most experts were not expecting good news from Black Friday. Optimistic analysts hoped that consumers would show up and spend a bit of money, given how high inflation has been changing shopping habits this year. But the early reports show mostly good news for retailers, as sales easily surpassed expectations. Here is a look at the current Black Friday sales data. Expectations of a soft holiday season Major retailers forecasted lower-than-average sales for Black Friday 2022 due to inflation and the Federal Reserve’s interest rate hikes. Inflation put pressure on consumers in the form of higher prices for goods, and interest rate hikes increase the interest rate on consumers' credit cards. A slowdown in spending was present long before Black Friday, causing many retailers, including Target , to forecast a less-profitable Black Friday. Ultimately, however, shoppers showed up to buy, very good news… Read full this story
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Black Friday Sales Numbers Hit Record Highs Despite Fears Of Recession have 311 words, post on www.forbes.com at December 4, 2022. This is cached page on Bach Thien. If you want remove this page, please contact us.