Retailers offer big deals for Black Friday but will shoppers spend?

abcnews.go.com:

Shoppers hunting for big deals packed malls on Black Friday as retailers stepped up discounts and other perks to lure customers weighed down by inflation and sticking to tighter budgets

NEW YORK — Shoppers hunting for big deals packed malls and stores on Black Friday as retailers stepped up discounts to entice customers who are sticking to stricter budgets this year and resisting impulse buying.

Consumers are under pressure as their savings dwindle and their credit card debt grows. Although they have gotten some relief from easing inflation, many goods and services like meat and rent are still far higher than they were three years ago.

Yvonne Carey, 72, was among the first shoppers at Macy's Herald Square store in Manhattan where she snapped up discounted Michael Kors slippers and Ugg boots for herself. But Carey said she plans to stick to the same $1,000 budget as last year as she shops for gifts for her six grandchildren and her husband.

“The prices are crazy on everything food, clothes,” Carey said.

Many retailers ordered fewer goods for this holiday season and pushed holiday sales earlier in October than last year to help shoppers spread out their spending. The early shopping trend accelerated during the pandemic when clogs in the supply network in 2021 made people buy early. But this year, retailers said more shoppers are focusing on deals and waiting until the last minute.

At Macy’s Herald Square store, shoppers began streaming in soon after the doors opened at 6 a.m., finding discounts of between 40% and 50% on boots and shoes and handbags. Diamond jewelry was discounted by 60%.

Facing competition from travel and restaurants, Macy's stepped up experiential shopping this season. At Herald Square, the Disney