WEST DES MOINES, Iowa — With inflation falling to 7.7% the outlook for the Christmas shopping season is looking up.
“Not much of a cause for celebration for some, I mean I think people like to see the price come down at the gas pump,” said Nancy Abram, of the University of Iowa Tippie College of Business, where she specializes in the retail sector. “We think about a lot more spending 60 bucks to fill our car.”
She cited a projection from the National Retail Federation that predicted a six to eight percent increase in spending over last year. She said that increase is driven by companies like Amazon and Target offering early deals in October, spreading out the shopping season. Also, some people will be out on Black Friday and smaller retailers are open for Thanksgiving this year.
In Valley Junction the falling prices are good news heading into the shopping season.
“Here at heart of Iowa we’ve seen kind of both spectrums shoppers being a little bit leery a little bit more conservative with their funds, a little shopping more for others, I think that trend is going back to shopping for themselves.”
“I feel like we’re spending a little less this year trying to save up because things are so expensive they’re way more expensive,” said Courtney Parker, a shopper from Des Moines.