Holiday Shopping and the Economy

With the holiday season in full swing, it’s apparent that the coronavirus pandemic has dramatically reshaped the way we celebrate and shop.

In this episode of Your Money, Leo Daprile of Gem Young Insurance and Financial Services in Canfield explains changes in consumer habits, how retailers are faring in this shifting economic landscape.

“Only half of the usual number of shoppers braved the brick-and-mortar stores on Black Friday,” Daprile says. 

“COVID is changing things forever. “Even after the COVID battle is over, things will not return to normal, and retail sales are a good indicator of that.”

Reports project that Cyber Monday sales will be the biggest online shopping day in U.S. history.

As shoppers grow more comfortable with shopping online, it is likely that the trend will be part of the “new normal.” Daprile says that stores with a strong online presence will likely fare better than the rest.

To learn more, watch the video above.

Original Air Date: Dec. 1, 2020. Every Tuesday during the Dan Rivers show on AM570 WKBN, Gem Young President Leo Daprile hosts a radio show called Your Money. Daprile brings his vast knowledge of all things “money” to discuss the topics in language everyone can understand.

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