Currently, everyone is enjoying a massive Black Friday sale, which is happening all around the country, whether it’s online or offline. Great deals are coming for customers who are trying to buy their favorite products or services, and big retailers are hoping to make some right amount of money during this festive season. However, a recent survey reports show that consumers are somewhat worried about the upcoming recession. The survey shows that more than 44 percent of shoppers think there will be a recession in 2020, and this thing might be impacting on current year’s Black Friday sales.
The mentality of shoppers are still skeptical about the current economy, and that might create some problems for retailers who are hoping for a grand Black Friday event. The confidence level of consumers has dropped continuously for the fourth month because of the labor market. Still, many of them are excited about the holiday season, which is a good indicator for all sellers.
Even though macroeconomic indicators are healthy, many retailers are holding their position still during this festive season. Currently, consumers might not face that much problem when it comes to spending because the interest rates have been lowered continuously by the feds. Experts said that there is a specific reason why some big retailers are opening their black Friday deals even before the main event, and the reason behind it is upcoming uncertainty. Even though there is uncertainty about the market, there are still some high chances that consumers would love to spend their money during this festive season. Low rate of unemployment, wage rates getting higher and better economic conditions from the last few months might give a boost to black Friday sales. Still, there is a feeling of uncertainty among buyers, which might affect this festive season’s sale.