Strange Black Friday in America

(Dan Tri Newspaper) - Black Friday takes place at a sensitive time, when Americans are increasingly pessimistic about the economy and personal finances, so they are no longer as interested in "sales hunting" and shopping...

Black Friday is typically the highlight of year-end shopping and the biggest shopping event in the US. During this event, products are often discounted by 20-30%, or even 70-80%. However, this year's Black Friday seems to be happening literally, as one of the world's largest economies is showing a trend of reduced spending.

Reuters reports that Americans are trying to balance Black Friday bargain hunting with their personal budgets. Citing the latest survey results from consulting and auditing firm Deloitte, consumers are trending towards spending less during the holiday season this year. Survey participants indicated they plan to spend 4% less than last year between Black Friday and Cyber ​​Monday due to higher living costs and increased concerns about the economy.

This result is the opposite of previous years. For example, Deloitte's 2021 survey showed that shoppers consistently planned to spend more than the previous year during the weekend after Thanksgiving.

This year, spending cuts are occurring across many income groups. Those earning less than $50,000 a year plan to reduce their spending by 12% compared to last year. Those earning over $200,000 a year may cut their Black Friday shopping by about 18%.

In fact, statistics from recent years show that Black Friday has been less vibrant, as people have shifted to online shopping. This trend has become even more popular after the pandemic.

This year, Black Friday is taking place at an even more sensitive time, as Americans are increasingly pessimistic about the economy and personal finances. The consumer confidence index released by the University of Michigan on November 21st recorded one of its lowest levels in history, only slightly higher than the June 2022 low – a time when inflation surged. 69% of those surveyed predict that the unemployment rate will rise in the coming year.

Scottsdale Fashion Square shopping center in Scottsdale, USA, on Black Friday 2024 (Photo: Reuters).

Rising prices are making many people hesitant to buy. Others are saving money for essentials. "Next year, our health insurance premiums are going up sharply. So we have to curb our impulsive spending," said Liz Sweeney (Idaho).

"After the government reopened, consumer sentiment improved slightly compared to mid-month. However, they remain disappointed by the prolonged high prices and weak incomes," said Joanne Hsu, director of consumer surveys at the University of Michigan.

Mark Mathews, chief economist at the National Fruit Protection Agency (NRF), noted that American consumer sentiment has weakened. The NRF estimates that the average spending on gifts and holiday supplies (decorations, food, candy, cards, etc.) is around $890 per person, lower than last year ($902).

While the number of people participating in the festival increased, the amount of money spent was less than before. On November 24th, the National Retail Federation (NFR) estimated that approximately 186.9 million people would shop during the five days of Black Friday, from Thanksgiving Thursday to Cyber ​​Monday (the online shopping Monday after Black Friday) – an unprecedented number, higher than the 183.4 million people last year.

However, retail sales growth may slow down in the last two months of the year. The NFR forecasts this figure to reach $1 trillion this year, an increase of about 4% (slower than the 4.8% increase recorded in 2024).

The year-end shopping season is crucial for American retailers, often contributing 30% of their annual profits. This year, retailers are running promotions early. Walmart started its biggest sale of the year in mid-November, running until December 1st in three phases. Amazon launched its Black Friday week last week, while Macy's opened a dedicated online portal for the event.

Source: https://dantri.com.vn/kinh-doanh/black-friday-la-lung-o-my-20251127152016514.htm