Shopping during the holidays is an activity some loathe and others yearn for, but almost everyone has to endure. This year comes with the fear of high inflation, a swath of layoffs, and a darkening economy. Overall, it may or may not lead to less spending, but it will undoubtedly change how consumers shop. According to ICSC’s Thanksgiving Weekend survey, 81% of respondents said the rising interest rates are likely to impact their shopping behaviors or payment methods during the Thanksgiving weekend, whether spending less, using cash or taking advantage of deferred payment methods.
That said, shopping in person is still a preferred option, and one may even argue that having a physical presence will be an advantage in this economic climate.
Shopping in person is still the preferred option.
According to ICSC’s Thanksgiving Weekend survey, 75% of shoppers say they’ll visit a retail shopping center during