It’s no secret that 2022 has presented some “interesting” challenges for brands and retailers. On the heels of a historic economic rebound following the pandemic, we were quickly met with yet another macroeconomic downturn. Fueled by a number of global and domestic factors: supply chain issues, the war in Ukraine, political unrest, and record high inflation just to name a few, experts believe a recession to be “a distinct possibility“.
As the Federal Reserve continues to raise interest rates in an attempt to tone down this overactive economy, retailers and consumers continue to wait for the economic impact. What’s more, as noted by several experts across various financial institutions, the Fed is looking closely at the 2022 holiday shopping season in particular as they determine what actions to take in 2023.
Our team has gathered a collection of statistics and results from this year’s Black Friday weekend. Oftentimes regarded as the kickoff to the holidays, this Black Friday, not surprisingly, was historic.
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