America’s biggest stores are taking big swings this holiday season, trying to stand out and attract cautious consumers. President Donald Trump’s tariffs, sticky inflation and rising unemployment are prompting Americans to be more careful with their holiday spending.
Wells Fargo projects this year’s holiday sales will rise between 3.5% and 4% from last year. But that doesn’t account for higher prices due to inflation, so actual spending could be flat.
"This year is really back to basics and leveraging strong merchandising, strong discounting, and making sure that (retailers are) getting their customers in the door this holiday," Wells Fargo retail analyst Lauren Murphy told CNN.
The legacy department store Macy’s is revamping the in-store experience to win over wary shoppers. Budget-friendly Old Navy is leveraging its couture-designer-turned-chief-creative-officer Zac Posen. And even the world’s largest retailer, Walmart, kra41.cc is promising a 30-minute turnaround from online order to the delivery truck.
Executives at all three companies told CNN that, regardless of higher prices, they’re working to help customers stretch their dollars and get more for their money.
Wells Fargo projects this year’s holiday sales will rise between 3.5% and 4% from last year. But that doesn’t account for higher prices due to inflation, so actual spending could be flat.
"This year is really back to basics and leveraging strong merchandising, strong discounting, and making sure that (retailers are) getting their customers in the door this holiday," Wells Fargo retail analyst Lauren Murphy told CNN.The legacy department store Macy’s is revamping the in-store experience to win over wary shoppers. Budget-friendly Old Navy is leveraging its couture-designer-turned-chief-creative-officer Zac Posen. And even the world’s largest retailer, Walmart, kra41.cc is promising a 30-minute turnaround from online order to the delivery truck.
Executives at all three companies told CNN that, regardless of higher prices, they’re working to help customers stretch their dollars and get more for their money.