Consumers are expected to spend an average of $567 during Black Friday and Cyber Monday sales this year, a 13% increase compared to last year, according to Deloitte’s Annual Black Friday-Cyber Monday survey. Despite this willingness to spend, consumers will still feel the impact of steady inflation on essential items like food.
Stacey Widlitz, Chief International Store Hunter at SW Retail Advisors, spoke to Yahoo Finance about where consumers can find the best deals and which retailers are well-positioned to take advantage of current economic trends this holiday season.
Widlitz highlighted that consumers are prioritizing spending on necessities. While there is talk of disinflation, food costs have actually risen by 20% over the past two years and show no sign of declining. As a result, consumers are still feeling the strain and continue to spend on essential items. Widlitz expects this trend to continue throughout the holiday season, with retailers like Target and Walmart already focusing heavily on food, basics, and health products.
To find out which retailers are best positioned to cater to consumer needs at present, watch the video above.
For further expert analysis and the latest market updates, watch the full episode of Yahoo Finance Live by clicking here.