Once political ads stopped, retailers began energetically promoting the holiday shopping season. Santas appeared in malls, Target stocked up on “Wicked”-themed items for the upcoming movie, and discounts that began in October continued. This year, Thanksgiving is late, making the crucial holiday shopping period shorter by six days. The coming weeks, highlighted by Black Friday and Cyber Monday, are especially significant for retailers of all sizes.

While holiday budgets may not increase much, the National Retail Federation predicts total holiday sales could reach $989 billion, the highest since 2019. In the Twin Cities, shoppers are expected to spend an average of $570 on gifts this year, similar to 2023. Retail leaders recognize they must attract shoppers over multiple visits as consumers remain cautious with their spending due to ongoing inflation.

Many shoppers plan to hold out for better deals, making Black Friday and Cyber Monday popular shopping days.

Retailers such as Best Buy began announcing holiday plans in September and have been promoting sales since October. Walmart noted that sales during festive periods have been strong, but customers remain thoughtful about their spending decisions. Target has lowered prices on thousands of items to help alleviate consumer concerns about costs, highlighting the challenges posed by inflation.