After Donald Trump won the 2024 election, shipments surged in red states and decreased in blue states, according to the report. This suggests that Trump's supporters are poised to accelerate holiday spending, while Harris' supporters are cutting spending.
According to shipping data collected by e-commerce logistics provider Grip, red states saw an average 50.4% increase in shipping volume after the election. First reported by CNBC.
Meanwhile, shipments in blue states fell by an average of 11.2%, according to the data. Only two states, Illinois and Minnesota, both won by Democrats, saw an increase in shipping volume after Trump's victory. All other blue states saw a decline in trading volumes.
Although President Trump's victory is acknowledged by many to be concerned about the economy, those who voted for President Trump are hopeful that the next president will be able to rein in inflation and bring down prices. is increasing.
But Harris' supporters worry that some of Trump's proposed policies, such as imposing high tariffs on imports from China, Canada and Mexico, could reignite inflation.
The data suggests that this year's holiday spending trends may be divided by presidential vote, with about half of the population feeling confident about the future of the U.S. economy and the other half feeling anxious. Most holiday spending forecasts did not take this factor into account. The study results were released ahead of the November election.
Spending during the holiday shopping season, which runs from Thanksgiving to Christmas, is expected to increase by 2.5% to 3.5% this year, the paper said. National Retail Federation.
This rate of increase was the slowest since 2018, when holiday retail sales rose 1.8% year over year.
There are many reasons for the weak outlook, including this year's particularly short period between Thanksgiving and Christmas.
Many reports predicting modest growth in retail also predicted that a lengthy election counting process might not materialize or that contested elections could disrupt consumer shopping.
Additionally, CNBC reports that the National Retail Federation's forecasts and forecasts from Bain and other companies do not account for inflation, so holiday sales growth could be even smaller than this year's report. It is said that there is.
Isaac Krakowski, head of consulting retail at EY Americas, told CNBC that holiday spending is expected to increase by only 0.5% after excluding higher-than-normal prices from sales growth.
After Trump won the presidency, Americans expected the former Republican leader to lower prices, and consumer sentiment rose 1.8% in November from the previous month. However, inflation remains a major concern for many consumers.
Retail sales during the Black Friday and Cyber Monday shopping holidays are expected to grow faster than spending for the entire holiday season as cash-strapped consumers cut back on discretionary purchases in search of big deals and discounts. has been done.
