Black Friday Shopping Surges as Consumers Aim for Record $1 Trillion Spend

UPDATE: Black Friday shopping is in full swing across the U.S., with shoppers braving snowy conditions to snag the best deals. Upstate New Yorkers are leading the charge, with families like Tina Douglas’s leaving home as early as 4 a.m. to line up at stores like Kohl’s for exclusive giveaways.

Douglas, from Richfield Springs, shared her family’s excitement, stating, “We have already filled my Jeep and had to transfer stuff to another vehicle.” This sentiment echoes throughout the region, as many families uphold the cherished tradition of in-person shopping despite the weather. Mary Hawks, visiting Sangertown Square Mall in New Hartford, remarked, “It’s just nice to continue it on with the younger generation.”

Retail expert Shelley E. Kohan from Syracuse University predicts that U.S. consumers will spend over $1 trillion during the upcoming holiday season, marking a significant 3% increase compared to last year. However, she warns that much of this growth is fueled by rising prices due to inflation. “Keep in mind, a lot of that 3% is tied up in our inflationary pricing,” Kohan stated.

Shoppers are expected to be particularly astute this year, focusing on value and making selective purchases. Kohan notes a surge in the use of buy now, pay later options and cashback apps. Furthermore, the integration of artificial intelligence in shopping—using tools like ChatGPT—has become common among consumers.

Kohan also advises caution. “If you see something that is promotionally priced, you should get it because there may be stockouts later in the season,” she warns. With many retailers reducing their inventory, the risk of out-of-stock items is higher than ever.

Despite the snowy weather, shoppers remain determined to explore deals and uphold traditions. Douglas emphasized, “The little bit of snow we’re going to get is no big deal. We live in upstate New York as it is.” Meanwhile, Hawks encourages others to experience the charm of local malls, stating, “If you get a chance to come to this mall, do it because it’s worth it.”

Kohan predicts that popular gifts this year will include electronics, toys, apparel, jewelry, beauty products, and even items for pets. As the shopping frenzy continues, experts and families alike are gearing up for a holiday season like no other, where spending is at an all-time high.

Don’t miss out on the action this Black Friday! Whether you shop in person or online, it’s a crucial time for consumers to secure the best deals before stock runs out. Stay tuned for more updates as the holiday shopping season unfolds.