“It’s a lot of social shopping, everybody is only looking to get what they need. There is no sense of urgency,” Cohen said based on his store checks in New York, New Jersey, Maryland and Virginia.
A Dollar Tree shopper, Jen, who declined to give her last name, said her plan is to direct holiday spending primarily to things she and her loved ones need. She joined together with others to purchase a $400 Le Creuset Dutch oven at regular price for her boyfriend. Although she has money to spend from her new job as an e-commerce designer, she is “a little bit wary” of the likelihood of a recession, she said.
Walmart ramped up marketing for the holiday, purchasing ad space on Twitter and Instagram, during National Football League games and on billboards near New York City’s Penn Station. “It’s hard to tell how Black Friday is panning out so far,” said Michael Brown, a partner at Kearney. “We have to look at the whole holiday season. The slowness in purchasing might get pushed out to Cyber Monday or further.”
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