Americans rushed to malls and big box stores, hoping to unearth Black Friday bargains in what might be a watershed moment for retailers, The Washington Post reported on Friday.
According to the newspaper, “despite the drop in interest for this day – it turned into a months-long sales pitch – traders of all sizes prepared for it”, according to the newspaper.
Analysts and industry experts, however, have warned that Black Friday might be a bit on the low end this year. According to the Washington Post, earlier and stronger sales – while beneficial for strategic buyers – are hurting retailers whose margins are hurt by an overabundance of inventory, and labor and other costs. growing overhead.
“At the same time, consumers are showing signs of weariness following facing inflation at levels not seen in decades for much of the year,” the newspaper continued, noting that rising prices in October, which stood at 7.7%, was still well above normal levels.
Finally, surveys show that even wealthy Americans also feel embarrassed. They are still buying, but choosing cheaper options, the Washington Post concluded.
