U.S. Black Friday not what it used to be: WP

(Xinhua) 10:29, November 26, 2022

NEW YORK, Nov. 25 (Xinhua) -- Americans hit malls and big box stores, hoping to snag Black Friday deals in what could be a make-or-break moment for retailers, who already are bracing for a more subdued spending season, reported The Washington Post (WP) on Friday.

"And despite the day's dwindling relevance -- it's morphed into a months-long sale pitch -- merchants of all sizes are digging in," said the report.

Analysts and industry experts have cautioned that Black Friday could be somewhat muted this year. Earlier and steeper sales -- while beneficial for strategic shoppers -- are hurting retailers whose margins are suffering from a glut of inventory and growing labor and other overhead costs, according to the report.

"Meanwhile, consumers are showing signs of fatigue after contending with decades-high inflation for much of the year," it said, noting that the October prices rise of 7.7 percent was still far above normal levels, and lower than analysts had expected.

Even wealthier Americans are feeling pinched, polls show. They're still buying, but choosing less expensive options, it added. 

(Web editor: Xian Jiangnan, Liang Jun)


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