TYLER, Texas (KLTV) – Rising costs have weighed on Americans for the majority of 2022, but despite inflation, Americans are expected to spend more this holiday season than last year.
The National Retail Federation (NRF) predicts holiday sales will increase between 6% and 8% this November and December over 2021.
“We’re actually seeing that holiday sales are up about 6-8% but if you factor in the cost of inflation, that actually means that sales are down a little bit this year,” UT Tyler Professor of Marketing Dr. Kerri Camp said.
According to the NRF, over 166 million people are planning to shop starting Thanksgiving Day through Cyber Monday. That’s 8 million more than last year. Camp said people are shopping earlier after facing supply chain disruptions.
“About 8 million more consumers will be shopping from Black Friday to Cyber Monday because they are trying to spread out the cost of