Thanks, Joe! Americans Set To Cut Back On Holiday Shopping

  • Online holiday sales are expected to take a hit this year, after months of brick-and-mortar discounts may make customers less likely to feel the tug of limited-time holiday deals, CNBC reported.
  • Online sales on Black Friday and Cyber Monday are expected to grow by 1% and 5.1% respectively, according to Adobe Analytics, the slowest growth since the company began tracking online sales in 2015, CNBC reported Monday.
  • Traditional retailers have been aggressively discounting products to clear excess inventory that was ordered following a pandemic-era surge in retail shopping, prompting consumers to potentially spread out their shopping and blunt demand for one-time discounts.
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