Consumer News: UPS planning to bump up shipping costs, consumer confidence up in October and more
CNN– American consumers are getting back to spending more money, just in time for the most expensive holiday shopping season. The Consumer Confidence Index rose 113.8 points in October, reversing a three month downward trend. It was the highest level since July, when the index stood at 125.1 points. Nearly half of the respondents say they intend to take a vacation in the next six months, the highest level of prospective travelers since before the pandemic.
Some bad news as we head into those more expensive months, inflation is way up and companies across most industries are raising their prices for just about everything. That includes shipping costs at UPS, but it won’t affect your holiday deliveries just yet. The company plans to bump up prices next year, despite posting record profits. UPS announcing this week that the annual profit has risen to nearly $3 billion, up more than 22% from last year, and making 2021 the shipping giant’s best year ever, before the holiday season has even begun.
ABC NEWS– A new consumer alert out tonight, deep holiday discounts may be hard to come by this season. ABC’s Becky Worley takes a look at some of the things you may not want to wait to buy.
If you thought airline travel before the holiday season was hectic between unruly passengers and cancelled flight, some major airlines are now streamlining the passenger experience with brand new technology that might be able to save some time. ABC’s Gio Benitez has the details.