Consumers break shopping record over Thanksgiving holiday weekend
Black Friday and Cyber Monday are gone, but some retailers have extended their sales.
According to data gathered from the National Retail Federation, it’s estimated that 196.7 million Americans shopped over the Thanksgiving holiday weekend.
On Wednesday’s edition of “Closer Look,” Mark Mathews, the National Retail Federation’s Vice President of Research Development and Industry Analysis, talked with program show host Rose Scott about shopping trends amid the pandemic and skyrocketing inflation.
“For the first time in a number of years, retailers have actually been able to discount goods,” said Mathews.” In the last couple of years, things have been so scarce there was no rationale to discount.”
During the conversation, Mathew also talked about the most purchased items this holiday season and predictions for retail shopping in 2023 now that many Americans have been able to save money during the pandemic.
“Consumers are better off now as a result of the pandemic than they would’ve been if the pandemic had not happened –and that’s what’s been driving all of this spending,” explained Mathews.
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