Shoppers Seek Deals Amid Inflation Concerns
- Consumers starting holiday shopping early
- 65.5% of shoppers aged 30-44 start by Halloween
- Gen Z starts during Black Friday weekend
- Large retailers introducing deals ahead of Black Friday and Cyber Monday
- Amazon, Target, Walmart launching sales events in early October
- JLL forecasts higher holiday shopping spend
- Bankrate predicts a third of shoppers will spend less due to inflation and high interest rates
- Adobe projects 8.4% increase in online U.S. retail sales
- Deloitte expects 2.3-3.3% rise in overall holiday retail sales
As consumers seek out deals this holiday season, many are starting their shopping earlier than ever before. According to JLL, over 65% of shoppers aged between 30 and 44 begin their holiday shopping by Halloween, while younger generations like Gen Z tend to start during Black Friday weekend. In response, large retailers such as Amazon, Target, and Walmart are introducing deals ahead of Black Friday and Cyber Monday. JLL predicts higher spending on gifts, food, decor, and experiences, with 83% of consumers purchasing something for themselves. However, Bankrate reports that a third of shoppers may spend less due to inflation and high interest rates. Adobe anticipates an 8.4% increase in online U.S. retail sales between November 1st and December 31st, reaching $240.8 billion, while Deloitte expects overall holiday retail sales to rise by 2.3-3.3%.
Factuality Level: 7
Factuality Justification: The article provides relevant information about consumers starting their holiday shopping early and how retailers are responding with early deals. It also includes data from various sources to support the claims made. However, it could benefit from more context on the inflation and high interest rates mentioned in passing.
Noise Level: 4
Noise Justification: The article provides relevant information about holiday shopping trends and early deals from major retailers, but it could benefit from more in-depth analysis of the factors driving these trends and a comparison with previous years’ data to provide context for readers.
Financial Relevance: Yes
Financial Markets Impacted: Retailers such as Amazon, Target, and Walmart
Financial Rating Justification: The article discusses holiday shopping trends and their impact on retailers’ sales and strategies, which affects the financial performance of these companies and the overall retail industry.
Presence Of Extreme Event: No
Nature Of Extreme Event: Other
Impact Rating Of The Extreme Event: No
Extreme Rating Justification: There is no mention of an extreme event in the text.
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