Inflation-wary US consumers flock to ‘Black Friday’ deals

TDT | New York

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US shoppers were out in force for “Black Friday,” with preliminary data showing strong online sales despite inflation nerves prompting retailers in the world’s biggest economy to come up with ever more deals. As markets and consumers eye possible turbulence during the transition from President Joe Biden to Donald Trump, there are hopes that the year’s biggest shopping season -- stretching from Thanksgiving to Christmas -- will be a bonanza.

The National Retail Federation (NRF) said a record 183.4 million people are planning to shop over the weekend, ticking up from 182 million last year and 18.1 million higher than 2019, before the Covid pandemic derailed the global economy. Adobe Analytics said US consumers had spent $7.9 billion online as of Friday afternoon, an increase of 8.2 percent over last year, with a projected final tally between $10.7 and $11 billion -- an e-commerce record for Black Friday.

The so-called “Black Friday” discounts day originated as a single day when shoppers poured -- sometimes stampeded -- into malls in search of incredible deals, but is now accompanied by “Small Business Saturday” and “Cyber Monday.” While inflation has been largely tamed from its post-Covid spike, Americans remain wary, with consumer prices still significantly elevated above their pre-pandemic levels.