202225 Nov

Walmart overtakes Amazon in shoppers search for Black Friday bargains

Summary

Retailers are battling for shoppers eyeballs and wallets at a time when the holiday shopping season is expected to be more subdued than in years past. Americans are expected to pull back on their holiday shopping this year as sky-high inflation squeezes their spending power. The National Retail Federation said it expects holiday sales during November and December to rise between 6% to 8% from last year, a decline when factoring in the effect of inflation. Online sales during the months of November and December are forecast to grow a meager 2.5% to $209.7 billion, compared with an 8.6% increase a year ago, according to Adobe Analytics. Businesses who host their online stores on Shopify were raking in $1.52 million per minute on Thanksgiving Day, according to the company.

Source: Cnbc

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