"There is still that desire to find lower-cost alternatives where possible," Tassin said, highlighting a persistent trend among consumers to seek better deals even as they spend this season.
Retailers reported that shoppers, including those from affluent backgrounds, have been cautious with spending. They remain focused on maximizing value, often choosing to shop at off-price outlets.
Significantly, the University of Michigan's Consumer Sentiment Index has shown improvement since mid-year, reaching its highest level in October, suggesting growing consumer confidence.
Despite improved consumer conditions, many continue to hunt for bargains during the holiday shopping season, showing resilience amidst fluctuating prices and economic factors.
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