Shipping volume rose in red states and fell in blue states after Donald Trump won the 2024 election, according to a report — suggesting that Trump supporters are poised to increase holiday spending, while Harris supporters are willing to cut back. Are doing.
Shipping volume to red states increased by an average of 50.4% after the election, according to shipping data collected by e-commerce logistics provider Gripp. First reported by CNBC,
Meanwhile, shipping volume in blue states declined by an average of 11.2%, according to the data. Only two Democrat-won states, Illinois and Minnesota, saw an increase in shipping volume after Trump’s victory. All other blue states saw their volumes decline.
Trump’s victory – which many attribute to concerns about the economy – has boosted Trump voters’ outlook on the economy as they expect the president-elect to be able to reduce inflation and lower prices.
But Harris supporters worry Trump could stoke inflation again with some of his proposed policies, like slapping Imports from China, Canada and Mexico with heavy tariffs,
Data shows that holiday spending trends may be divided this year during the presidential election, with about half the population feeling confident about the future of the U.S. economy and the other half feeling anxious — a A factor that hasn’t been taken into account in most holiday spending forecasts because these studies were released before the November election.
Spending is expected to grow between 2.5% and 3.5% this year during the holiday shopping season between Thanksgiving and Christmas, according to the . National Retail Federation,
that’s an increase Slowest growth since 2018When holiday retail sales rose 1.8% from a year earlier.
There are several reasons for this dim outlook, including the particularly short time between Thanksgiving and Christmas this year.
Many reports predicting little retail growth also anticipated a lengthy election counting process that never came to fruition, or a contested election that would have distracted consumers from shopping.
And holiday sales growth may be even lower than reported this year, because the National Retail Federation’s forecasts, along with predictions from Bain and other firms, don’t account for inflation, CNBC reports.
When higher-than-usual prices are excluded from sales growth, holiday spending is expected to grow only 0.5%, Isaac Krakowski, EY Americas consulting retail leader, told CNBC.
After Trump won the presidency, consumer sentiment rose 1.8% in November from a month earlier as Americans hoped the former Republican leader would be able to lower prices. But inflation remains a major concern for many consumers.
Retail sales during the Black Friday and Cyber Monday shopping holidays Total holiday spending is expected to grow faster than expected as cash-strapped consumers hold off on discretionary purchases for big deals and discounts.
