Consumers Cool On Holiday Spending With Doubts ‘Deep Discounts’ Are Coming

One likely reason for tighter spending plans is consumers aren’t expecting “deep discounts” offered in US earlier in 19 pandemic, shows Simon-Kucher survey. Four times as many than in 2021 expect 10% or less discounts.

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Simon-Kucher & Partners found in an online survey in 23 countries between July and August that 89% of around 20,500 respondents expect to spend in holiday shopping but will spend less overall than they did in previous years.

With inflation continuing and consumers’ budgets shrinking, more than two-thirds of shoppers who plan to shop on Black Friday, they...

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