According to Deloitte’s Annual Black Friday-Cyber Monday survey, consumers plan to spend an average of $567 during Black Friday and Cyber Monday sales, up 13% from last year. While consumers seem to be ready to increase spending during this holiday season, wallets will certainly be hurt as inflation remains steady for necessities like food. Stacey Widlitz, SW Retail Advisors Chief International Store Hunter, joins Yahoo Finance to give insight into where consumers will be looking for the best deals and which retailers poised to capitalize on current economic trends during this holiday season.
On where consumers are focused Widlitz explains: “Obviously consumers are spending on necessities, you know, we’re talking about disinflation and that’s great, but the bottom line is food costs are up 20% on a two-year basis and that’s not declining, that’s just stagnating. So the consumer is still feeling it and still spending on their basics. I think you’re going to see a lot of that this holiday season. You’re already seeing with the likes of Target (TGT) and Walmart (WMT) they’re pushing hard on food and basics and health.”
Watch the video above to find out which retailers Widlitz are in the best position for what consumers want right now.
For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live.