Layaway spending to hit a record this holiday as financial strains persist

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Layaway spending to hit a record this holiday as financial strains persist
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Breaking news and exclusive reporting about retail, shopping, store openings and closings, in Dallas, Collin County, North Texas and beyond.

Shoppers walk on the first floor of NorthPark Center browsing store fronts during Black Friday in Dallas, on Friday, Nov. 25, 2022.

Grocery spending is another indicator that consumers are feeling crunched, with spending in the area expected to jump nearly 11% during the holiday months — by far outpacing other categories such as electronics and home goods. Deloitte sees US holiday retail sales growing 3.5% to 4.6%, slower than last year’s 7.6%. While healthy employment and income growth should buoy results, higher prices and a decreasing pool of pandemic savings will weigh on sales, Deloitte said in a Sept. 13 report.

Discount retailers from Walmart Inc. to TJX Cos. may also benefit as consumers seek out lower prices.

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