The holiday season is right around the corner, with retailers already executing their Black Friday weeks ahead of Thanksgiving. So far it appears like holiday shopping in America will persevere despite the record amount of credit card debt from U.S. consumers.
Natalie Kotlyar, BDO Retail & Consumer Products National Industry Leader, joins Yahoo Finance to break down the status of both consumers and retailers as they prepare for the holiday season.
“It’s going to be almost a waiting game between consumer and the retailer. So the consumer is going to try and hold out for that best, best price and we are dealing with a really educated consumer today,” Kotlyar says. “Anyone that’s going in to do any kind of shopping… they have their phones where they can identify ‘Is this the right price? Is this the cheapest price? Can I download a coupon?’ So there’s going to be that tug-of-war, so to say, about who’s going to which retailer. Retailers really need to understand who is their consumer and what’s important to them.”
For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live.
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