PINELLAS COUNTY, Fla. — Now that the holiday season is here, that means holiday shopping is in full swing.
But with inflation still playing a factor, it continues to impact how some consumers buy presents for the people on their lists.
“I’ve mostly been shopping for my boyfriend and my family, some friends,” said Pinellas County resident Megan Reeves.
For the past few weeks, she’s been busy buying Christmas gifts.
“This year I’ve bought some clothes for some loved ones of mine, I’ve also bought some electronics,” said Reeves.
She’s noticed that prices are still high.
“I guess I have been more price conscious this year, doing more to compare prices for different stores,” said Reeves.
“I really like thrift shopping, so also this year, I’ve been looking at thrift stores to see if I can find anything secondhand that feels a little bit more unique for the people in my life,” she added.
Other consumers are trying to save, too, this holiday season.
“More than 75% of people will be looking for ways to save, shopping these big sale days looking for coupon codes. So it’s going to be that kind of holiday where consumers are going to be conservative and shopping very, very carefully,” said Trae Bodge, smart shopping expert at TrueTrae.com.
That’s because economists told ABC Action News that many people are still feeling the squeeze on their wallets, even though inflation has improved some from last year.
“For everyday consumables, for gifts, we’re starting to see prices start to stabilize there, but they are a little bit higher than what we would expect,” said Michael Snipes, assistant professor of instruction in economics at the University of South Florida.
“According to a Bread Financial survey, 33% of people expect to spend more this year than last year,” said Bodge.
While the expected spending is up, it’s still not where it used to be pre-pandemic, as many people continue to struggle financially.
Shopping experts predict that could mean retailers may release more discounts on everyday items this time of year.
“The retailers know what’s going on and they see what people are buying,” said content marketing editor for BlackFriday.com Shannon Dwyer.
“Last year, we did see some more inflation-minded deals on practical items. We’ll likely see some of that again,” said Kristin McGrath, editor for RetailMeNot.
“Make sure you’re organized, especially for those gifts that you need to buy. Keep a list of recipients, gift ideas for each, a budget for each, and try to stay on track as you’re shopping,” said Bodge.
In the meantime, consumers are trying to stay on budget in the midst of ongoing inflation beyond just the holiday gifts.
“I think more for me it’s thinking about things like gas, things like food, you know, things that are required to get together with the people that you love for the holidays. You know we have to drive places, we have to spend money on food. So just thinking about how those costs are stacking up that cut into my spending,” said Reeves.
Economists believe it could take until 2026 for inflation to be more under control.
“We are all very concerned about what’s going on economically,” said Bodge.
