Despite inflation, holiday shopping traffic is up compared to 2021

Published: Dec. 7, 2022 at 8:40 PM CST
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JACKSON, Miss. (WLBT) - ’Tis the season for shopping! But it comes at a time when our wallets are already taking a bigger hit with day-to-day items.

You may want to adopt the same motto as the man in the big red suit this season.

We spoke with portfolio manager and part owner at New Perspectives Ryder Taff about how to avoid going in the red.

“When you’re approaching your spending, it’s the holiday season, make a list, check it twice,” said Taff. “Go into these things with a plan. Go into these things with a budget. And that’s going to be key in controlling your own spending.”

It seems basic, right? But check out this latest DebtHammer survey that shows 50% of Americans plan to take on short-term debt this holiday shopping season.

“If you don’t have a concrete plan for where those dollars are going to come from, then you probably won’t tackle it in the future,” noted Taff. “If you know for a fact that you are getting a raise, you are getting a bonus, you are selling something of value, which is going to totally cover everything in the future, then that’s fine. That is a plan.”

Despite inflation, the national forecast of a boost to holiday shopping is being reflected in the Magnolia State.

“I would say that for us, we’ve seen an increase in traffic,” said Panoply co-owner Krista Markham. “I think we work hard to have what people want and need,” added Panoply co-owner Emily Hendon.

Small shops like Panoply in Clinton tried to take folks’ financial situations into account as they planned ahead.

“We didn’t know what to expect ... Like, when we were shopping, we’re like, I just don’t know how much people are going to shop this year,” described Markham.

They admit they’ve adjusted some of their formulas because costs for them have gone up, but they’re trying to avoid passing along too many added costs to the customers.

Several cities say their “shop small” initiatives seem to be working. And shops say they’ve had customers comment that they’re trying to do more local shopping this season.

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