INDIANAPOLIS — The U.S. economy saw stronger-than-expected job growth in September, but the unemployment rate also rose to a nearly four-year high, according to the U.S. jobs report released on Thursday. As affordability remains a key issue, households appear to be changing their spending habits to essentials and value items.
As we head into the holidays, many are probably wondering when the best time to start buying, and how to snag the best deals. Truth is, that may be tricky.
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John Talbott, a marketing and retail expert at the IU Kelley School of Business, told WRTV that consumers are up against price impacts and retailers' supply chains this holiday shopping season.
"I usually say, Amber, that Halloween is the new Black Friday," Talbott said.
Traditionally, Black Friday marks the start of the Christmas shopping season.
"Before we really had ubiquitous e-commerce. Stores would try to get a leg up on their competitors by opening Wednesday night, and then, you know, I started opening on Thanksgiving and all that, and then that all went away," Talbott said.
Now, well, it's a new day.
"Black Friday will still probably be the biggest single shopping day of the year,” said Talbott. "But the deals are spread out really since mid-October."
Talbott said tariffs won't make shopping any easier.
"Certainly, there will be areas where there will be price impacts, but I think mostly because of the back and forth, it's really put stress on retailers' supply chains. And uncertainty, I've said this forever, is the bane of consumer spending," said Talbott. "Uncertainty usually leads to a little bit of a choppier holiday shopping season."
As deals are rolling in, Talbott suggests shoppers act now.
"You might find that you can find some pretty good markdowns as we get closer to Christmas. But if it's the thing you need, don't wait," Talbott said.
And Talbott said the new trend to save for the holidays is gifting experiences.
"As a component of overall spending, it's been growing for years," said Talbott. “I see people spending their money on things that they can remember forever rather than something that's going to break next week, and you have to get new batteries for it."
