Online holiday sales are expected to take a hit this year, after months of brick-and-mortar discounts may make customers less likely to feel the tug of limited-time holiday deals, CNBC reported.
Online sales on Black Friday and Cyber Monday are expected to grow by 1% and 5.1% respectively, according to Adobe Analytics, the slowest growth since the company began tracking online sales in 2015, CNBC reported Monday. Traditional retailers have been aggressively discounting products to clear excess inventory that was ordered following a pandemic-era surge in retail shopping, prompting consumers to potentially spread out their shopping and blunt demand for one-time discounts. …
The pressure businesses and consumers face from inflation is not expected to let up soon, with inflation for September forecasted to stay near 8%, according to Forbes.
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