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Thanksgiving weekend is right around the corner, and while many are looking forward to some great food, many others are gearing up for some great deals.
According to a survey by Deloitte, holiday spending is expected to surpass pandemic levels for the first time, with 95 percent of consumers saying they plan to shop this holiday season. The average spending per consumer is expected to increase by nearly $200 over last year and is expected to be the highest over the past four years.
Last year, consumers spent over $936 billion in retail and another $211 billion online, a more than 5 percent increase compared to 2021, according to Deloitte’s holiday shopping results. A large cause of the increased spending was inflation, which reached as high as 7.1 percent in November and December.
Despite inflation currently less than half of what it was in 2022, 72 percent of consumers are expecting even higher prices at retailers and other stores this year.
This week on Noon Edition, we will talk with guests about this year’s shopping trends and what to prepare for when you shop this holiday season.
You can follow us on Twitter at @NoonEdition or join us on the air by calling 812-855-0811 or toll-free at 1-877-285-9348. You can also send questions for the show to firstname.lastname@example.org.
John Talbott – Senior Lecturer and Director for the Center for Education and Research in Retail in the Kelley School of Business
Kelley Wight – Professor of Marketing in the Kelley School of Business with expertise in consumer behavior