Study finds Americans are spending less, shopping earlier this year

This Black Friday, Metro-Atlanta shoppers went searching for deals for hours.
Published: Nov. 25, 2022 at 6:12 PM EST
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ATLANTA, Ga. (Atlanta News First) - This Black Friday, thousands of metro Atlanta shoppers went searching for deals for several hours.

“I’ve been here since the stores opened this morning trying to take in all the great deals,” said Chris Earwood.

RELATED: Black Friday shopping kicks off in metro Atlanta

An early start to Christmas shopping is one of the ways that RetailMeNot reports that people are trying to save money on holiday gifts. The report reveals half of the shoppers plan to spend less this year and 70 percent are factoring inflation into their shopping plans.

According to the National Retail Federation, among the 114 million Black Friday shoppers, 67 percent plan to head into the stores. So some shoppers still long for the brick-and-mortar shopping experience.

RELATED: Black Friday sees busier crowds than previous years at Atlanta’s airport

RetailMeNot found that consumers will be spending 8% less than they did last year: $725 on average, compared to $786 in 2021.

The study predicts early half of shoppers will buy fewer things, a third are using coupons, and about a quarter will scale back on gift-giving altogether.

The National Retail Federation said 166 million people will still shop over the Thanksgiving holiday weekend, showing inflation is not deterring some shoppers.