Retailers are giving out mixed signals on consumer spending for the holidays. The Consumer Federation of America and Credit Union National Association say shoppers will spend less than last year. Many economists foresee holiday spending likely rising by 2.5 to 3 percent from last year’s level. Dwight Johnston, chief economist with the California Credit Union League, says consumers spending more on cars, more on home remodeling, more on rent, etc. In other words, they’re spending more on big ticket items. But the biggest factor has been a shift from spending on goods to spending on services. · According to WalletHub, JCPenney and Kohl’s are the best retailers for Black Friday deals · Over 17% of items will actually be more expensive on Black Friday than they currently are on Amazon.com. · Books, movies and music will offer the most value on Black Friday relative to their current prices, while jewelry is expected to be the worst deal. · 11% of Black Friday deals are the same as last year
Story Date: November 27, 2015