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Trump voters may fuel holiday spending while Harris supporters cut back: report

November 29, 2024
in Business
Reading Time: 4 mins read
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Trump voters may fuel holiday spending while Harris supporters cut back: report
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This Christmas shopping season, the MAGA crowd is making a list and checking it twice.

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Shipping volumes surged in red states and fell in blue states after Donald Trump won the 2024 election – suggesting that his supporters are poised to fuel holiday spending this year while those of Vice President Kamala Harris cut back, according to a report.

Trump’s win has boosted his voters’ outlook on the economy as they hope the president-elect will be able to tame inflation and lower prices.

Trump supporters are expected to fuel holiday spending this year as they feel confident about the future of the economy. Getty Images

The same optimism was reflected among New Yorkers out deal-hunting on Black Friday, like Michelle Tabone, 52, a teacher shopping at Macy’s Herald Square who was feeling so confident that she and her daughter could afford to treat themselves.

“We’re happier, everything looks brighter. At least if it’s not the inflation [coming down], it’s a peace of mind,” she told The Post.

“This year, knowing that President Trump is in office, we were more willing to spend money,” said Tabone, who was accompanied by her 22-year-old daughter, Mary.

“Things would be different if he [wasn’t] in office.”

Nationwide in states that went red, shipping volumes jumped an average of 50.4% after the election, according to shipping data gathered by e-commerce logistics provider Grip.

Meanwhile, shipping volumes in blue states dropped by an average of 11.2%, according to the data, first reported by CNBC Friday.

Only two Democrat-won states, Illinois and Minnesota, saw shipping volumes increase after Trump’s win. All other blue states saw their volumes fall.

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One red-stater doing some holiday shopping in blue New York was Teresa Carson, from Texas, who said Trump’s election victory had a direct influence on her not being afraid to splash some extra holiday cash.

“We’re at retirement age, and our investments have gone up over the last two months and I didn’t feel as pinched because of that,” said Carson, who was out shopping sales at Macy’s Herald Square with her daughter, who lives in the Big Apple.

“People who are more educated about investment in business see [Trump] as a businessman, so they see that business-wise it’s going to get better. So I think that helps with the spending and the shopping, I feel a little more comfortable,” she told The Post.

“My husband owns a small business and has lots of real estate, and that’s kind of coming back to life a little bit, and that means that his business is more secure.”

Supporters of Kamala Harris’ campaign watched in dismay as election results rolled in. Getty Images

Trump’s business acumen also gave a boost of confidence to Sayduh Khan, 55, who was shopping at Queens Center Mall for his three children.

He said although this year’s Black Friday discounts were “not suitable,” he wasn’t worried about the money because of the impending change in leadership.

“With this new government, I think in six or seven months, you’ll see change. I think [Trump] is a president that will deliver better than what we have now. He’s a businessman, he understands how to calculate taxes, he knows about pricing,” Khan told The Post.

“I’m not worried about the money I’m spending now because in six or seven months it will get better. There is hope for the future.”

Some shoppers said they spent less because they were disappointed with the depth of the discounts, while others said they had cut back because of the cost of basic necessities, which have spiraled out of control under President Biden.

“I definitely bought less this year than last year. I don’t think the sales were that great,” said Stephany Bayron, 30, a speech pathologist shopping with her mom, Sandra, at Queens Center Mall.

“Some stores have doorbusters, but most of the stores, the sales that they are offering are offered all year long, so it really isn’t worth it for Black Friday,” she said.

“I usually do my shopping on Black Friday for Christmas time but now I’m a little bit worried about the costs of what I’m buying because everything is so expensive.”

Holiday spending is expected to grow this year by the slowest rate since 2018. AFP via Getty Images

The money she saves on gifts this year will most likely be put toward day to day items in her budget, “…mostly bills,” she noted, but also groceries.

“Last year it wasn’t like this. I didn’t have to think about should I buy eggs or gifts. It’s going to be eggs so everybody can eat – spend it on the necessities and less gifts,” she said, laughing.

At Kings Plaza Shopping Center in Brooklyn, shoppers said they were watching their wallets and pocketbooks, too.

“My rent went up, everything went up and the grocery store is super expensive,” Jessica G, 36, of Brooklyn told The Post.

“I’ve always been like a cautious spender. I try to shop deals and go to stores that aren’t super expensive.”

Simone James, also of Brooklyn, said inflation has impacted her spending so much she’s only bought a toy stroller for a child in her family so far.

“We’re still looking for shoes but we’re trying to find a place where the prices are cheaper,” she said.

“I was kind of expecting [higher prices] but not this much.”

Additional reporting by Hannah Fierick

Credit: Source link

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