HOUSTON — Everyone knows the holiday shopping season officially starts after Halloween, but no one is predicting a record-breaking season this year.
With many Americans worried about a recession come January, this could be a grim one, according to multiple reports.
The good news is that sales have already started, and shoppers can expect the biggest markdowns in years. That's because stores are overstocked, unlike last year when shelves were still bare from pandemic shortages.
But according to CNBC, while big bargains will dominate the holiday season, shoppers may not be sold. They said it's because soaring gas, grocery, and rent prices have many consumers holding off on big spending.
That's unlike the past two holidays when bank accounts were flush with stimulus checks, and consumers were snapping up new laptops, TVs, and furniture.
So we can add to the "doesn't that stink" file, big markdowns when many shoppers are just not in the mood for them.
CNBC said that if you're looking for shopping for the biggest discounts on holiday items, look for computers and electronics.
That's because most of us stocked up on those during the pandemic lockdown, so we don't need a new laptop now, and you won't waste your money.