Black Friday shoppers search for deals during economic uncertainties

CHESTERFIELD COUNTY, Va. (WRIC) -- Big-box stores across American and here in Greater Richmond opened their doors near dawn on Friday, Nov. 28 for Black Friday, hoping to grab holiday shoppers' attention with markdowns despite months-long economic uncertainties and tariffs.

Like many stores, JCPenney at Chesterfield Towne Center welcomed customers at 5 a.m. to snag bargains, including one family who's made Black Friday shopping a family tradition.

When asked what items the family members are looking for, Janie Whitlow said, "Great deals. Great deals with shoes, appliances. Even if we don't find anything, we got together."

While several dozen early birds waited in lines at JCPenney on Friday morning, Nationwide Senior Economist Ben Ayers said two in five American consumers say they plan to spend less this holiday season than in past years.

That number came from thousands who participated in the insurance and financial services company's recent survey, asking respondents about their thoughts on the economy and plans for the holidays.

One in five also said they might not buy gifts at all, stemming from rising costs on goods like groceries over the last several months and rising energy bills.

At JCPenney on Friday, the economic uncertainties are not stopping the shoppers, as some said their top items this season are board games, video games and clothes.

Generally, based on the Nationwide data, however, consumers are cutting back on nonessentials, or so-called discretionary items.

"Impulse purchases, luxury items," Ayers explained. "Many people aren't looking to buy a house or a car either because they're more worried about everyday expenses than they are about making those big plans for the future."

Ayers said Americans are having a difficult time meeting the rising costs' demands.

"More and more Americans are saying they're relying on debt that they did previously," Ayers said. "We have $1.2 trillion sitting on credit card balances right now, and people are sometimes even having to take money out of their retirement plan to keep up with everyday costs."

Ayers said he's optimistic things may change for 2026 as he said a stimulus from the One Big Beautiful Bill and low interest rates from the Federal Reserve may help businesses grow their presence and drive the economy.