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Will consumers overspend on holiday shopping this year?

Published: Nov. 23, 2021 at 10:34 PM CST
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FARGO, N.D. (Valley News Live) - There are just a few days until Black Friday.

Shopping centers and malls are already seeing more shoppers.

“Traffic and customers are up over 2019 as well as sales,” said Chris Heaton, the property manager for West Acres Mall.

How much are people willing to spend?

“Right now, I’m not going to be spending too much. I’m going to watch what I spend so I don’t get homeless,” said James Iyere.

Rising prices and people still trying to recover from the impacts of the pandemic are adding to the pressures of holiday gift-giving.

“I feel a little bit of stress and worry, but as the Lord as my savior, I know I am going to persevere through this and the people I have on my list I will provide for them,” said Eric Christenson.

Some say you have to know your limits.

“Watch what you spend. We don’t know if the Covid is going to come back. I’m not praying for the Covid to come back. If it comes back, I know there’s some money I have saved. Watch what you spend and save some money,” said Iyere.

Christenson said, “It’s all about giving within your means. Just know what your means are.”

A recent consumer report shows 70% of Americans overspend during the holidays.

Some other ways to cut costs include creating a realistic budget, shopping early...and using credit card rewards.

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