US retail industry faces gloomy shopping season

VTV.vn - The US retail industry entered the year-end shopping season with quite a bit of concern as purchasing power weakened, inflation persisted and consumers tightened their spending.

US consumers have begun their online shopping day on Cyber ​​Monday, capping off the week after Thanksgiving. Promotions touted as the “best of the season” are luring millions of people to their computer and phone screens.

This year's Cyber ​​Monday in the US is expected to set a record spending of $14.2 billion, up 6.3% from 2024. Previously, Black Friday reached $11.8 billion and Thanksgiving $6.4 billion. This year's Cyber ​​Monday saw deep discounts on many electronics and fashion items, along with an 11% increase in the buy now pay later trend. Mobile shopping accounted for more than 56% of total holiday spending.

However, the US retail industry entered the year-end shopping season with quite a bit of concern as purchasing power weakened, inflation persisted and consumers tightened their spending.

A series of large corporations such as Target, Home Depot and Walmart have sent out warning signals. Target has had to cut prices deeply but still saw customers cut spending on non-essential goods.

The University of Michigan's November consumer confidence index fell to a near-record low, suggesting price pressures are eroding real incomes.

Morgan Stanley data shows that only 30% of Americans plan to spend more during the holiday season, while 23% plan to cut back. Inventory pressures have forced many retailers to slash prices, weighing on profits. The stock market has reflected these concerns, with the S&P 500 down 3.5% in November, its worst month since 2008.

While holiday spending is forecast to exceed $1 trillion, most of the growth is expected to come from inflation, not increased sales.

Source: https://vtv.vn/nganh-ban-le-my-doi-mat-mua-mua-sam-am-dam-100251202062655475.htm