The holiday shopping season kicks off unofficially with Black Friday, but post-Thanksgiving crowds are expected to be watching every dollar this year as continued high inflation threatens their buying power.
The National Retail Federation projects holiday sales to grow 6 percent to 8 percent, down from a strong 13.5 percent last year and possibly marking a decline after adjusting for inflation. Recent data has shown that Americans are increasingly holding out for big discounts, or replacing luxury goods with less expensive alternatives. Shoppers also are more likely to choose "buy now, pay later" options this year and pay in installments, according to The Associated Press.
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