NEW YORK—Americans to date are spending a little less this holiday season, but still more than they can afford, a new report indicates.
Total spending on Black Friday, both in stores and online, fell slightly from a year ago, the first decline on record, in part because holiday shoppers started their shopping earlier in face of supply chain setbacks and shipping delays, CNBC said.
All in, consumers plan to spend $997.73 on average for themselves and their families this year, according to the National Retail Federation’s annual survey, down from the pre-pandemic high of $1,047.83 hit in 2019.
And for the first time, about 45%, of shoppers plan to use “buy now, pay later” services for their holiday shopping to spread out their expenses, CNBC stated in its analysis.