How Is Inflation Impacting Black Friday 2022?

Black Friday is here, and as retailers released shoppers into their stores, so too did the news media release a wide range of perspectives on the day’s economic ramifications. 

Where Coverage Differed: By Friday afternoon, coverage frequently offered seemingly contradictory views of shopping trends. While a CNBC (Center bias) poll found that “consumers are not saying they will cut back sharply on spending,” and CNN Business (Lean Left bias) said shopping was “solid, despite inflation,” the Associated Press (Lean Left bias) reported that “many people were reluctant to spend unless there was a big sale.” The New York Post (Lean Right bias) and Reuters (Center bias) reported on “a slow start” and “thin crowds” at stores. Furthermore, while the Associated Press said online discounts were “up 7% from the previous year,” The Wall Street Journal (Center bias) reported on a purported lack of “door-buster deals” this year.

Where Coverage Agreed: Inflation “soared,” “bit,” “hovered,” “weighed,” and “loomed” in headlines across the spectrum. Higher prices were blamed for apparent consumer reluctance, with several outlets citing higher food and gas prices as contributing factors. A Fox Business (Lean Right bias) article suggested inflation would shift attention from Black Friday to Small Business Saturday.