One in four adults plan to take advantage of Black Friday sales this year, but there is little indication most will be spending any more than they have in the past. In the latest Economist/YouGov Poll, 25% will shop on Black Friday — the day after Thanksgiving that marks the beginning of the Christmas shopping season, and the day retailers hope to go into the black.
Younger adults are the most likely to hit the stores Friday — 39% of them say they’ll be shopping that day.
But the critical economic question is “How much will you spend this holiday season?” Three in four Americans plan to buy Christmas presents, but only 5% of those adults say they will spend more this year than they have in previous years. And more than four in ten will spend less than usual.
Older Americans are especially likely to be holding back, but there is no difference when it comes to economic class. Nearly as many Xmas gift buyers with incomes above $100,000 as those with incomes under $40,000 say they will spend less this year.
Photo source: Press Association