Winners and losers of Black Friday 2023
Inflation has been a persistent challenge for retailers this year by creating cautious consumers. For weeks ahead of Black Friday, retailers have been encouraging consumers to spend on what is typically considered the busiest and most important day of the year for the industry. “Retailers are seeing customers across the spectrum become more choiceful and discerning, which includes buying closer-to-need,” TD Cowen analysts led by Oliver Chen said in an emailed note regarding Black Friday. In response to consumer reticence, retailers seemed to begin promoting their holiday shopping deals earlier…
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