Consumers holding out for big deals—and some much-needed relief from soaring costs on just about everything—may be disappointed as they head into the busiest shopping season of the year. Know more:
NEW YORK—Consumers holding out for big deals—and some much-needed relief from soaring costs on just about everything—may be disappointed as they head into the busiest shopping season of the year.
Things looked a bit better for consumers shopping for clothing—they paid nearly 5 percent less compared with last fall, according to DataWeave. Meanwhile, prices held steady for footwear. “I do feel like everything’s more expensive,” said the Brooklyn, New York, resident. “But I mainly keep track of it with small items, like food.”
Michael Liersch, head of advice and planning at Wells Fargo, said this holiday shopping season, it’s more likely that things will “appear discounted or feel discounted, or it will seem like there are big offers” but that between inflation and “shrinkflation” when manufacturers quietly shrink package sizes without lowering the price—it’s often not the case.
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