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.
Featured Coverage of this Story
From the LeftBlack Friday isn’t what it used to be. Here’s why.
Americans hit malls and big box stores, hoping to snag Black Friday deals in what could be a make-or-break moment for retailers, who already are bracing for a more subdued spending season.
And despite the day’s dwindling relevance — it’s morphed into a months-long sale pitch — merchants of all sizes are digging in.
In Dallas, shoppers lined up outside the LEGO store at the NorthPark Center mall before it opened. But one of the first people through the door was not there for Black Friday but for a new...
From the CenterInflation? Recession? Starting Black Friday, holiday shoppers are planning to spend
Americans are not planning major cuts in holiday spending this year, starting with Black Friday, despite inflation fears and the risk of recession being top concerns among the majority of consumers, according to an annual survey conducted by CNBC and SurveyMonkey ahead of the first big shopping weekend of peak season.
Two-thirds of Americans (67%) are worried about inflation making it more difficult for them to buy the items they want. Even more (69%) worry a recession will limit their ability to make purchases. But anticipated cutbacks in spending among...
From the RightInflation weighs on shoppers despite Black Friday deals
Concerns over inflation have crept into the holiday season as shoppers and retailers prepare for the discounted shopping weekend that begins with Black Friday, the day after Thanksgiving.
Facing higher prices for food, gasoline, and other goods this year, many consumers are reluctant to spend extra money on gifts without a large sale, according to the Associated Press, and are being more selective about what they buy.
Katie Leach, a social worker in Manhattan, told the outlet that she would be doing her holiday shopping in December and would be relying on sales, “buy now, pay later” services that let customers...