Economists Predict Strong, Holiday Sales Despite , Waning Black Friday Interest.<br />'Forbes' reports that over half of shoppers in the <br />United States are expected to skip this year's Black <br />Friday sales, looking for better deals amid high inflation.<br />Deal-hungry consumers will play <br />a game of chicken with retailers <br />this year. They’ll wait till later in <br />the season for retailers to yield and <br />give them even deeper discounts, Pamela Danziger, 'Forbes' senior contributor <br />for luxury retail, via 'Forbes'.<br />According to 'Forbes,' Black Friday deals have <br />been losing momentum for the past several years, <br />as some holiday sales can now start as early as July. .<br />Oversaturation, which includes Cyber Monday <br />and Christmas in July, has reduced <br />the significance of Black Friday sales. .<br />A significant share of shoppers <br />familiar with Black Friday sales <br />events are skeptical that the <br />discounts offered are genuine, Pamela Danziger, 'Forbes' senior contributor <br />for luxury retail, via 'Forbes'.<br />Given the less-than-enthusiastic <br />interest in Black Friday shopping <br />this year, shoppers are likely to <br />wait it out, expecting retailers to <br />make more attractive bargains <br />available later in the season, Pamela Danziger, 'Forbes' senior contributor <br />for luxury retail, via 'Forbes'.<br />According to National Retail Federation reports, <br />holiday sales are still estimated to rise <br />over 3% from 2022, reaching $957 billion.<br />Economists have been predicting all <br />year that a spending slowdown was <br />on the horizon, but consumers have <br />turned out to be more resilient <br />than most forecasters expected, Joan Verdon, 'Forbes' retail contributor, via 'Forbes'.<br />Most of the early holiday spending forecasts thus far have ranged from cautiously optimistic to upbeat, Joan Verdon, 'Forbes' retail contributor, via 'Forbes'.<br />A recent Deloitte report points out that a 3% <br />to 4% increase in holiday sales would propel<br />2023 beyond pre-pandemic spending figures.
