DENVER – As the Federal Reserve continues to fight inflation, many U.S. shoppers were hoping to take advantage of discounts offered on Black Friday and Cyber Monday.
But how good are the holiday shopping deals?
Google shopping insightsand price tracking reveals: it depends on the item and the seller.
For example, a search for a 50-inch TV revealed multiple different prices depending on the TV’s features. However, after researching the 3-month average price of the TV, many TVs showed little to no sale price on Cyber Monday.
However, when searching for a pair of Nike Air Max 90, most non-special edition pairs were between $70 and $90 on Cyber Monday, a discount from an average 3-month price of $105 to $130.
More than 72 million people are expected to shop during Cyber Monday, according to the National Retail Federation.
Americans are paying with credit cards for a lot of their shopping. According to a survey from the National Retail Federation, 39% of shoppers said they plan to use credit cards for their holiday spending. More than one in four shoppers say they plan to take on some debt during the holidays — either by carrying a credit card balance or using a buy now, pay later service, according to Bankrate.
American credit card debt hit a record $1.17 trillion in the third quarter of this year.
Experts told Scripps News that setting a budget and sticking to it can help prevent people from overspending and taking on debt during the holidays.