Mario Tama | Getty Images News | Getty ImagesEarly Black Friday discounts were far higher this October compared to prior years, signaling retailers are concerned that demand could be tepid during the crucial holiday shopping season.
Last year, about 30% of overall holiday sales happened online and other non-stores versus physical retail locations, according to the NRF.
On average, 7.8% of all items were on sale at some point during the month compared to just 4.9% in 2019 and 3.3% in 2021.
In Oct. 2022, prices were down just .7% compared to the prior year and in Oct. 2021, prices were up 1.9% compared to the prior year.
The following year, when both inventories and inflation had grown and consumers were starting to feel the burn of high prices, promotions rose.
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