The biggest challenge for retailers this holiday season will be chasing cash-strapped shoppers.
The consistent uptick in prices for everything from groceries to fast food could also hit retailers, who often pull out big deals to win key holiday sales, according to retail experts.
Research firm Mintel found that 64% of consumers surveyed want to spend the least amount of money possible during this year’s winter holiday. And 54% plan to shop for fewer gifts than a year ago.
While total retail sales have grown modestly this year, the growth is primarily coming from value-focused retailers like T.J.