Black Friday is not what it used to be!
Shoppers in the Big Apple favored affordable brands like Zara and Abercrombie & Fitch over high-end retailers like New York’s famed Bergdorf Goodman on Friday’s busiest shopping day — as concerns about inflation hit a 12-year high.
Bargain hunters who hit brick-and-mortar stores to try and score Black Friday deals told The Post that the savings are getting smaller.
Brian Johnson, 56, said he didn’t feel like he got a deal anymore, as he stood outside a Nike store in Manhattan with his daughter and granddaughter.
“It’s not Black Friday like it used to be. I don’t feel it. I remember when I used to come to New York with $300 or less and I would buy shoes, boots, coats, jeans… Now for $300, you can get it, much cheaper,” Johnson said.
“They said I got a deal but I didn’t because everything was too high.
“I’m going to go into a little bit of debt,” she admitted, adding that she used her credit card to shop after Thanksgiving.
Brian Johnson, 56, said Black Friday isn’t what it used to be.
Kirsten Brown, 34, of Brooklyn, just saved $100 on Lego.Robert Miller
The New York native, who now lives in Virginia but has family in New Jersey, had to skip Thanksgiving with her relatives last year because she couldn’t afford it.
This year, although he made up for it for the festival, he left the Christmas tree at home.
“The tree is more expensive this year and there are not enough presents to put under the tree. I will decorate the fireplace and put some things on the mantel,” the father told The Post.
Kirsten Brown, 34, of Brooklyn, is also feeling the brunt of soaring prices.
He was dragged to the Lego store in Rockefeller Center by his overjoyed son who wanted the Avengers Towers – which came out at midnight – and the Lion Knights Castle, which they got for $800.
Brown said she only saved $100 even though it was the sale day of the year, but she tried not to worry about it because her son was “over the moon” about her gift.
“The price of everything has gone up. The sale price lowers the price back to full cost as before,” he said.
“You think you’re winning but technically you’re not.”
Shoppers brave enough to splurge on affordable brands like Zara and Abercrombie & Fitch over high-end retailers like New York’s famed Bergdorf Goodman. Paul Martinka
Inflation has affected vacation spending. Paul Martinka
Brown says he also knows people who weigh their options and ask themselves: “Am I on vacation or am I buying this?”
Although his mother’s wallet felt the pressure of inflation, little Nathan was very happy, saying: “I am happy to have such a good mother.”
Other cash-strapped shoppers hunting for great deals choose to stick to more wallet-friendly stores, even when there are sales.
They were spotted grabbing Abercrombie’s 25% off everything, Zara’s up to 40% off select items, and Mango’s up to 50% off sale on holiday gifts, rather than expensive or luxury products.
Meanwhile, Apple offers customers gift cards for some purchases and Bergdorf Goodman, which houses luxury brands such as Oscar de la Renta and Valentino, offers a $500 gift for a $2,000 purchase — which has become the average shopper’s reach amid rising inflation.
Prices rose 18.2% in October this year compared to October 2020, according to the latest inflation figures.
The Consumer Price Index – which tracks changes in the cost of everyday goods and services – rose 3.2% last month, according to data by the Bureau of Labor Statistics.
Many shoppers now prefer to do their shopping online rather than going to a brick and mortar store. Paul Martinka
However, more affordable brands aren’t seeing the numbers they used to.
“People are coming in droves, but it’s not like it used to be when people lined up at 4am,” a Mango sales clerk told The Post Friday. “I think more people are doing Cyber Monday.”
Many New Yorkers agree, admitting that they plan to do all their holiday shopping online.
Chloe Roberts, 36, said she shops “exclusively online” because it’s “too hard” to do grocery shopping anymore.
“You get it in the mail, you try something on, you return it. This is an easier process,” he said.
Zara on Fifth Avenue did see lines and customers flip through racks looking for pink sale tags, but customers didn’t walk out with big bags full of clothes like in previous years.
Patty, who gave only her first name, spent about $170 in the store and said she got some “really good deals.”
Even more affordable brands don’t see numbers like they used to. Paul Martinka
“We got a lot of good stuff,” said a mother who was shopping with her daughter Kelly.
“We probably saved about $100,” Kelly agreed.
However, Kelly admits she does most of her shopping online so she doesn’t have to “deal with people.”
Patty, however, likes to stick to in-store shopping, saying: “I’m old fashioned. I like people keeping their jobs. I like to pay myself. I like to see people in front of me.”
Holiday spending is expected to hit a five-year low this year. The National Retail Federation expects overall sales to rise 3% to 4% this year, down from a 5.4% increase last year and a 12.7% jump in 2021.
“They have savings from the stimulus checks that are running out now,” Richard Baum, managing partner of Consumer Growth Partners told The Post.
“They don’t have a lot of discretionary income to spend and less this year than last year, even though inflation is starting to ease.”
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Source: thtrangdai.edu.vn/en/
