Thanksgiving has been a quiet holiday in the retail industry, with most stores remaining closed, but Black Friday is still expected to be as busy as ever for many businesses.
The National Retail Federation says it expects higher spending this holiday season despite higher interest rates, a possible recession and more stores choosing to stay closed for Thanksgiving.
Nevertheless, online shopping is expected to help boost sales, with the Better Business Bureau forecasting a nearly 10% increase in spending.
BBB of Chicago President and CEO Steve Bernas said:
The BBB has also warned shoppers to be smart when buying goods online and has seen an increase in fraud complaints.
“We are seeing an increase in online complaints, often involving fake web offers that steal only credit card information, and other information that steals your identity,” said Bernas. “It’s important to remember to research the company in every possible way when buying online.”
For those who prefer to shop in-store, stores open early on Black Friday, and opening hours for many major retailers are available on NBC Chicago’s website.