Black Friday kicks off the holiday shopping season in the US, but this year brings uncertainty. Despite 6 percent annual growth in holiday spending, low consumer confidence casts a shadow on shoppers' willingness to open their wallets.
Still, consumers are eager to spend on meaningful self-expression purchases. “Having more in their bank accounts than they had three, four, five years ago,” says McKinsey’s Tamara Charm in a video, “when consumers really want something, they are splurging on it.” Learn more about the state of the consumer, including which demographic groups are most likely to splurge, why businesses should reconsider their loyalty program strategies, and more.
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