Consumer reports examine 2023 Black Friday spending

CHATTANOOGA, Tenn. (WDEF) — According to fiscal reports, consumer spending hit a record last year on Black Friday.

If this is due to inflation or just overall spending, is the question.

The majority of Black Friday sales, in recent years, were attributed to online shopping.

CNN Business shared that online shoppers approximated over 9 billion dollars on Black Friday last year.

The NASDAQ shared a recent update claiming that consumers may decrease their spending this holiday season.

Experts shared that record-high consumer credit card debt and the increased cost of goods due to inflation are affecting consumer spending.

With this in mind, local Walmart operator, Mike Kirksey explained their deals for the holiday season.

“I think this year in particular, there’s going to be a lot more customers that are tight with their money. So, these sales are going to be even more important when they’re out there looking for deals and bargains to be able to buy gifts for their families,” Kirksey said.

Now that Halloween is over, shoppers can expect Christmas deals everywhere soon.

Walmart will have deals starting as early as next Friday in preparation of the holiday season.

“Money’s going to be tight this year, and we are all about trying to help people save money so that they can live better. So, I think with these sales and the ads that we have, that’s what the main goal is to help people save money,” Kirksey added.

The Lookout Valley location will be starting their deals next week with Walmart Plus members getting early access.

“For our customers with the Walmart Plus memberships, they’ll actually be able to go online and purchase a lot of those deals a couple of days prior to it actually sitting in the store. So, I think it’s going to be a win-win for everybody there,” Kirksey said.

Plenty of other stores across the country will also have their own Black Friday sales.

Economists will determine how 2023 sales compare to past years.