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Walnut Creek, CA (KGO) — It’s the last shopping week before Christmas. That meant long lines for payment and parking. But with inflation superimposed on prices, many retail economists are unsure how consumer sentiment will play out.
Many shoppers filled their bags at Broadway Plaza in Walnut Creek. But some say they are holding back this year.
Peyton Anoni, who is visiting his parents on vacation after returning from college, said, “It certainly feels like things have gone up. Everything feels more expensive.
MORE: Gift Card Trends This Holiday Season: Multistore Cards, Bonuses on Purchases
“We don’t know what will happen next year. ,” explains Sandra Radcliffe. , lives in Albany.
Retail stocks tumbled across the board on Thursday after November’s retail sales report was worse than expected.
Inflation may be on the minds of most people, but the National Retail Federation predicts holiday sales in November and December will be 6-8% higher than last year.
Details: Consumer Reports shares recommended deals for everyone on your gift list.
The supply chain is generally stable. The labor market is strong. But economists say retailers are bracing for lost spending as more people travel and seek experiences over shopping.
“I’m saving up for my car, so Christmas might be a little tight this year,” says Hayward resident Adaline Rivera.
Many retail economists seem unsure of how retail sales will play out. But one thing many are sure of is that shoppers will hold out for bargains.
“I love deals. I love discounts. I love coupons,” says Fairfield resident John Robinson Jr. with a laugh.
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