During the holiday season in 2022, the economy’s current state of inflation has gone up and affected the way people are shopping for the holidays.

Days like Cyber Monday and Black Friday were more popular this year than previous years. The amount of people shopping on Black Friday  this year increased 8.6% from 2021 and 32%  from 2020. 

“I try to shop in the sale section and use coupons at this time of year. I definitely went Black Friday shopping, it’s the best time to go [shopping] because things are on sale,” said Zoe Triantos (‘24). 

The value of the dollar has gone up more than 17% in the past year. Businesses had to adjust their prices. Since employers haven’t adjusted wages enough to offset inflation, Americans don’t have the same purchasing power. 

“I think it’s fair bigger businesses are raising their prices due to inflation because they need to make money. I feel like prices will increase but people should get higher wages,” said Julia Lindstrom (‘24).

Inflation has gone up 7.7% in 2022, which means that businesses need to raise their prices to get by. Because large corporations have the funds to keep prices relatively stable, they have the advantage over small businesses. Given the option between high and stable prices, consumers will choose the latter, which may cause small businesses to struggle to stay open. 

“ Corporate businesses are definitely raising their prices more than small businesses. I don’t think it’s fair businesses are raising their prices due to inflation but it’s kind of something that they have to do because people have to make more money,” said Triantos.

During the holiday season,smaller businesses tend to struggle because they can’t make as much money as big businesses due to their lack of funds and marketing ability. With inflation rates rising, small businesses struggle to stay open in these expensive times.

“I think it’s fair businesses are raising their prices due to inflation because if one business does it I feel like they all have to do it.,” said Max Couper (‘24).