CHICOPEE, Mass. (WWLP)- Holiday shoppers are set to spend the same amount as last year this season but the money won’t go as far in 2022 as in the past. Inflation is changing the way people shop this holiday season. Shoppers are adjusting to inflation, spreading the task over several pay periods or making more practical purchases.
Tyrell, owner of Billinico, said he noticed inflation in most of his purchases and he’s making changes for holiday shopping. “I notice it with the gas prices, the food prices pretty much everything. Definitely being more cognizant of where my money is going. Budgeting a little more, tightening up, and probably getting a little less gifts this year. Those are the little things I’m doing just to combat inflation,” said Tyrell, owner of Billinico.
With the holiday shopping season about to kick off, Forbes predicts holiday shopping will fall by $30 billion as many consumers cut back on non food related purchases.