'Black Friday' deals target inflation-weary US consumers
NEW YORK
The annual Black Friday shopping day has always been about finding the best deals, but this year retailers are preparing for a U.S. consumer more zealously fixated than ever on getting value for their money.
Inflation has stabilized after dramatic price spikes during the Covid pandemic years, but consumers are still feeling the pinch - meaning bargain-hunting strategies such as grabbing early giveaways and waiting for last-minute steals are in vogue.
Compared with other years, holiday shoppers in 2024 are "even more preoccupied and very focused around value and discounts," said Vivek Pandya, leading insights analyst at Adobe Digital Insights.
"We do see stronger price sensitivity on the part of the consumer and they are very responsive to deals and event-tie deals," he said.
Consumers throughout 2024 have responded to special discount occasions such as Memorial Day and Amazon's "Prime Day."
Consumer prices on average were 22 percent higher in August 2024 compared with January 2020, according to Pew Research, and popular discontent with inflation is one reason Donald Trump won the U.S. presidency in November.
Inflation also continues to guide retailer discounting decisions as they try to deliver what the market demands.
