INDIANAPOLIS (WISH) — Here’s a look at Friday’s business headlines with Jane King.
Analysts: Stick to shopping list for Black Friday
Black Friday is famous for steep “doorbuster” discounts, but consumer shopping experts tell “The Wall Street Journal” that not every deal is a deal, especially for items you weren’t even shopping for.
They recommend sticking to a set shopping list and unsubscribing to retailers’ emails to reduce temptation.
Shoppers should also be wary of special deals on store-branded credit cards. These discounts can be great as long as shoppers are able to pay the balance off in full because store credit card interest rates are higher than traditional credit cards.
Report: Nearly 60% of shoppers plan to shop on small business Saturday
Inflation appears to have shifted consumer behavior this year to the point that Black Friday will be eclipsed ever so slightly by Small Business Saturday.
A new survey released by bankrate.com found that 59% of holiday shoppers are likely to hit stores on Small Business Saturday, while 56% plan on making purchases on Black Friday.
Small Business Saturday was created by American Express in 2011 to encourage people to do some of their holiday shopping at small businesses. The holiday has caught on with consumers, with nearly 6 in 10 holiday shoppers planning to participate this year, according to a November 2022 survey by Bankrate.
Amazon workers to protest during Black Friday
Thousands of Amazon warehouse workers across about 40 countries plan to take part in protests and walkouts to coincide with Black Friday sales.
Employees in the U.S., UK, India, Japan, Australia, South Africa, and across Europe are demanding better wages and working conditions as the cost-of-living crisis deepens.
Online retailers clamping down on free returns
The days of ordering numerous sizes and colors — something about 2/3 of U.S. shoppers claim to do — may be over.
After years of accepting free returns, online retailers are clamping down on the practice. Returns are expensive for retailers, which have to pay for the labor of sifting through and reselling the items.
Return fraud is also on the rise, according to the National Retail Federation — 10% of the $761 billion in returns made on purchases last year in the U.S. was fraudulent.