Don’t Waste Your Money: Holiday Shopping

CHARLOTTE, N.C.–  The holiday shopping season officially starts the day after Halloween. But no one is predicting a record breaking season this year. With many Americans worried about a recession come January, this could be a grim one, according to multiple reports.

The good news:  The sales have already started, and shoppers can expect the biggest markdowns in years. That’s because stores are overstocked, unlike last year, when shelves were still bare from pandemic shortages. But CNBC says while “Big bargains will dominate the holiday season, shoppers may not be sold.”

It says that’s because soaring gas, grocery, and rent prices have many consumers holding off on big spending. That’s unlike the past two holiday when bank accounts were flush with stimulus checks, and consumers were snapping up new laptops, TV’s, and furniture.

So from the “doesn’t that stink” file, big markdowns when many shoppers are just not in the mood for them. CNBC says look for some of the biggest discounts on computers and electronics.  That’s because most of us stocked up on those during the pandemic lockdown, and don’t need a new laptop now.

Bloomberg News says “Consumer fear could wreak havoc on holiday shopping this year,” with one in five shoppers planning to spend less. The upside: More discounts if you’re in the mood to shop, so you don’t waste your money.