Retailers may be forecasting record-breaking sales for the holiday shopping season, but low-income customers are struggling as they bear the brunt of the highest inflation in 39 years.
— the National Retail Federation says this year’s holiday shopping season appears to be on track to exceed its sales growth forecast of between 8.5% and 10.5%., about three-quarters of Americans say they will be giving gifts to friends and family to celebrate the winter holidays this year. But the rising costs have not gone unnoticed. About 6 in 10 Americans say holiday gift prices are higher than usual, while only 2 in 10 say they are not.
“It was hard enough a year ago, five years ago, for lower-income families to find extra money to buy gifts. But it is that much harder now,” said Ted Rossman, senior industry analyst at, whose survey in October found a significant number of low-income people were completely opting out of holiday gifting this year amid higher prices on essentials.
That prompted Bautista to bring in more holiday toys for the annual giveaway set for this Saturday. It will have about 2,000 toys to donate to families this weekend compared with about 1,500 a year ago. . Her husband lost his job as a chef at a restaurant that permanently closed in the spring of 2020. He got another job at a different restaurant a few months ago, but he’s only working on average six hours a week.
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