The supply chains have generally stabilized. The labor market is strong. But economists says retailers are bracing to lose out on spending as more people go on trips, search for experiences over shopping.
Retailers are bracing to lose out on spending this holiday season as more people go on trips and search for experiences over shopping.It's the last shopping week before Christmas. That meant long lines to pay and to park. But with inflation adding to prices, many retail economists are unsure about how consumer sentiment will play out.
"I definitely do feel like things have gone up, and everything feels more expensive," says Peyton Annoni, who is back from college and visiting her parents for the holidays."For next year, we never know what is going to happen. We don't know if we are going to have another pandemic or something, inflation, or another thing will come up. So, we are definitely saving," explains Sandra Radcliff, who lives in Albany.
Inflation may be on most people's mind, but the National Retail Federation still predicts holiday sales in Nov. and Dec. will increase 6 to 8% from last year.The supply chains have generally stabilized. The labor market is strong. But economists says retailers are bracing to lose out on spending as more people go on trips, and search for experiences over shopping.
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