December 1, 2022
America will increase spending, Europe will retreat amid the crisis of living

Many shoppers say they plan to spend less this Black Friday as the cost of living looms.

Richard Baker | in pictures | Getty Images

Black Friday may offer an opportunity for bargains ahead of the festive period, but many shoppers will expect retailers to cut prices more differentially this year as they tighten their belts amid a worsening cost-of-living crisis.

Shoppers in Europe are planning to spend almost one-fifth less during this year’s annual discount period, as inflationary pressures weigh on consumer sentiment. Boston Consulting Group research this month.

UK consumers are set to cut by the biggest margin in the region by spending 18% less, while France and Germany both plan to reduce their spending by 15% and Spain by 13%.

US consumers were alone in the survey of nine countries, which also included Australia, in saying they expect to spend more this year, increasing their spending by 6%.

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