Financial concerns to weigh on holiday shopping
October 19, 2022
Sixty percent of U.S. shoppers said that financial challenges are weighing on their purchasing decisions heading into the Christmas holiday season, according to Sensormatic Solutions. That compares to 14 percent who said the same last year. “Now, with demand being weaker, they [retailers] really have to go out of their way to advertise to consumers and get consumers with the highest likelihood to spend,” said Vivek Pandya, a lead analyst at Adobe Digital Insights.
Recent News
Tesla Recalls Cybertruck Due to Stuck Accelerator Pedal
Tesla is recalling almost 4,000 Cybertrucks due to a sticking accelerator pedal. The problem stems from an unauthorized lubricant used during assembly, which reduces the pad’s grip on the pedal.
Trader Joe’s Recalls Organic Basil Product Linked to Salmonella Outbreak
The company’s Infinite Herbs Organic Basil product is recalled due to a possible salmonella contamination.
Procter & Gamble Reports Mixed Results After Price Hikes
Procter & Gamble’s recent quarterly results showed a mix of gains and setbacks. Despite facing challenges in attracting shoppers due to increased prices over the past two years, the company managed to exceed earnings expectations.
JetBlue and Southwest Airlines Collision Narrowly Avoided at Reagan National Airport
An air traffic controller instructed one plane to cross the runway at the same time a second plane was taking off.