Holiday sales projected to rise at slowest rate ever

(CNN NEWSOURCE) — If you’re looking for a good deal leading into the holidays, you’re in luck.

According to Adobe Analytics, consumers are going to see a sharp increase in discounting this holiday season. That’s due to inventory growth and a decrease in supply chain issues plus the pinch on consumers’ wallets.

The company predicts the biggest discounts in electronics at 27 percent, up from 8 percent last year. The average toy discount? 22-percent.

Adobe says you’ll find the best discounts right around Thanksgiving, with Black Friday and Cyber Monday.

The company is also forecasting a stark slowdown in consumer spending for the remainder of the year.

From over 8 percent growth in 2021 to 2.5 percent in 2022 which would be the slowest rise on record.