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We’re shopping our feelings this Black Friday. Here are 3 things to know

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We’re shopping our feelings this Black Friday. Here are 3 things to know

Shoppers walk around Ross Park Mall near Pittsburgh earlier this month. For the first time, the National Retail Federation says, Americans will spend more than $1 trillion on holiday gifts, food and decorations.

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After much of the year focused on tariffs and the higher cost of living, Americans are ready to check out and celebrate the holidays. And signs are pointing to some of the deepest discounts seen in years, as stores try to coax shoppers into splurging.

The National Retail Federation, an industry trade group, is forecasting another record season. For the first time, it says, Americans will spend more than $1 trillion on gifts, food and decorations. It’s an optimistic prognosis that would mean sales growing by roughly 4%, just like they did last year.

Other estimates by firms that track spending predict spending may be less exuberant; Deloitte’s forecast suggests sales will grow around 3%.

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Still, this promises a holiday season that’s far from the flop many feared early in the year, when President Trump began to launch tariffs on almost all imports.

People are skipping extras — and trading up

Much of the spending in the U.S. has been propped up by wealthier families. Lower-income shoppers are under pressure, tightening their budgets. But regardless of income, shoppers are hunting for deals in a specific way — for quality that matches the price.

At the grocery store, for example, this has been showing up as people refusing to pay more for name-brand groceries and, instead, switching to store brands. Or at Home Depot and Best Buy, people are careful about buying big-ticket items — but when they do, they’ve been choosing the fancier upgrades with bells and whistles. And so, for the holidays, this could mean splurging on that one top-of-the-line gift. 

At Ross Park Mall in Pittsburgh, Marissa McCune, 22, and Logan Koegler, 23, stopped by for an early Christmas present for Koegler: “I was ballin’ out with the Apple Watch,” McCune says, laughing. The couple left the mall with a second gift, a Stanley cup.

“I graduated and now have a job,” said Koegler, a registered nurse. “So now I feel like I’m able to get Christmas gifts that I wasn’t able to get before, being a student.”

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Shoppers walk by clothing items displayed inside the Aritzia store at Ross Park Mall.

Shoppers walk by a window display at Ross Park Mall in Pittsburgh.

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Instead, what people are starting to skip are the small, spontaneous extras — just one more candle or hand cream as a stocking stuffer or self-gift — that they might have bought in a pandemic-era shopping spree.

“Customers have maybe pulled back to not buy some of those add-on items that they would have normally bought,” said Jessica Bettencourt, who runs Klem’s general store in Spencer, Mass., founded by her grandfather 75 years ago.

“So they’re coming in and buying dog food, but maybe not buying two dog toys to go with it,” she said. “And it’s really hard to tell where those things are that customers are going to make the decision to hold back on.”

This could mean better-than-usual sales

This choosiness by shoppers has stores preparing to offer some of the biggest discounts of recent years, to loosen up people’s purse strings.

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“It’ll be greater this year, I guarantee it,” Bettencourt said. “There are some categories — like the Christmas trim — that I can already see, it’s a little bit slow, so we’ll probably discount that much quicker.”

For the Black Friday weekend, Adobe Analytics, which tracks online transactions, forecasts discounts in line with last year — up to 28% off, including on electronics and toys. Discounts on clothes are expected to be deeper this year versus last year. Adobe predicts that Black Friday may see the best deals on TVs, toys and appliances.

Worried, but ready to celebrate

One big reason why the tariffs aren’t affecting the holidays as much as previously feared is how the Trump administration rolled them out — more slowly than originally threatened. Months of delays and renegotiations gave companies precious time; large retailers in particular stockpiled goods and found ways to keep prices from skyrocketing by either absorbing some of the costs themselves or pushing suppliers to do so.

Plus, people seem willing to spend for special occasions for some holiday reprieve from dim consumer sentiment, which continues to hover near the lowest level in the history of the highly watched monthly survey by the University of Michigan.

Shoppers showed up big for Halloween, which set spending records, and even for back-to-school. Higher-income shoppers are driving much of this spending. Unemployment hasn’t soared, and wages are generally still growing faster than inflation. Also, credit card debt has increased, and more people are turning to Buy Now Pay Later.

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“As we approach the holidays, we know consumers remain cautious,” Target executive Rick Gomez told investors last week, adding that sentiment is “low amid concerns about jobs, affordability and tariffs. Yet they remain emotionally motivated. They want to celebrate with loved ones without overspending.”

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Video: Prada Peels Back the Layers at Milan Fashion Week

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Video: Prada Peels Back the Layers at Milan Fashion Week

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At Milan Fashion Week, Prada showcased a collection built on layering. For the models, it was like shedding a skin each of the four times they strutted down the runway, revealing a new look with each cycle.

By Chevaz Clarke and Daniel Fetherston

February 27, 2026

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Bill Cosby Rape Accuser Donna Motsinger Says He Won’t Testify At Trial

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Baz Luhrmann will make you fall in love with Elvis Presley

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Baz Luhrmann will make you fall in love with Elvis Presley

Elvis Presley in Las Vegas in Aug. 1970.

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“You are my favorite customer,” Baz Luhrmann tells me on a recent Zoom call from the sunny Chateau Marmont in Hollywood. The director is on a worldwide blitz to promote his new film, EPiC: Elvis Presley in Concert — which opens wide this week — and he says this, not to flatter me, but because I’ve just called his film a miracle.

See, I’ve never cared a lick about Elvis Presley, who would have turned 91 in January, had he not died in 1977 at the age of 42. Never had an inkling to listen to his music, never seen any of his films, never been interested in researching his life or work. For this millennial, Presley was a fossilized, mummified relic from prehistory — like a woolly mammoth stuck in the La Brea Tar Pits — and I was mostly indifferent about seeing 1970s concert footage when I sat down for an early IMAX screening of EPiC.

By the end of its rollicking, exhilarating 90 minutes, I turned to my wife and said, “I think I’m in love with Elvis Presley.”

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“I’m not trying to sell Elvis,” Luhrmann clarifies. “But I do think that the most gratifying thing is when someone like you has the experience you’ve had.”

Elvis made much more of an imprint on a young Luhrmann; he watched the King’s movies while growing up in New South Wales, Australia in the 1960s, and he stepped to 1972’s “Burning Love” as a young ballroom dancer. But then, like so many others, he left Elvis behind. As a teenager, “I was more Bowie and, you know, new wave and Elton and all those kinds of musical icons,” he says. “I became a big opera buff.”

Luhrmann only returned to the King when he decided to make a movie that would take a sweeping look at America in the 1950s, ’60s, and ’70s — which became his 2022 dramatized feature, Elvis, starring Austin Butler. That film, told in the bedazzled, kaleidoscopic style that Luhrmann is famous for, cast Presley as a tragic figure; it was framed and narrated by Presley’s notorious manager, Colonel Tom Parker, portrayed by a conniving and heavily made-up Tom Hanks. The dark clouds of business exploitation, the perils of fame, and an early demise hang over the singer’s heady rise and fall.

It was a divisive movie. Some praised Butler’s transformative performance and the director’s ravishing style; others experienced it as a nauseating 2.5-hour trailer. Reviewing it for Fresh Air, Justin Chang said that “Luhrmann’s flair for spectacle tends to overwhelm his basic story sense,” and found the framing device around Col. Parker (and Hanks’ “uncharacteristically grating” acting) to be a fatal flaw.

Personally, I thought it was the greatest thing Luhrmann had ever made, a perfect match between subject and filmmaker. It reminded me of Oliver Stone’s breathless, Shakespearean tragedy about Richard Nixon (1995’s Nixon), itself an underrated masterpiece. Yet somehow, even for me, it failed to light a fire of interest in Presley himself — and by design, I now realize after seeing EPiC, it omitted at least one major aspect of Elvis’ appeal: the man was charmingly, endearingly funny.

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As seen in Luhrmann’s new documentary, on stage, in the midst of a serious song, Elvis will pull a face, or ad lib a line about his suit being too tight to get on his knees, or sing for a while with a bra (which has been flung from the audience) draped over his head. He’s constantly laughing and ribbing and keeping his musicians, and himself, entertained. If Elvis was a tragedy, EPiC is a romantic comedy — and Presley’s seduction of us, the audience, is utterly irresistible.

Unearthing old concert footage 

It was in the process of making Elvis that Luhrmann discovered dozens of long-rumored concert footage tapes in a Kansas salt mine, where Warner Bros. stores some of their film archives. Working with Peter Jackson’s team at the post-production facility Park Road Post, who did the miraculous restoration of Beatles rehearsal footage for Jackson’s 2021 Disney+ series, Get Back, they burnished 50-plus hours of 55-year-old celluloid into an eye-popping sheen with enough visual fidelity to fill an IMAX screen. In doing so, they resurrected a woolly mammoth. The film — which is a creative amalgamation of takes from rehearsals and concerts that span from 1970 to 1972 — places the viewer so close to the action that we can viscerally feel the thumping of the bass and almost sense that we’ll get flecked with the sweat dripping off Presley’s face.

This footage was originally shot for the 1970 concert film Elvis: That’s The Way It Is, and its 1972 sequel, Elvis on Tour, which explains why these concerts were shot like a Hollywood feature: wide shots on anamorphic 35mm and with giant, ultra-bright Klieg lights — which, Luhrmann explains, “are really disturbing. So [Elvis] was very apologetic to the audience, because the audience felt a bit more self conscious than they would have been at a normal show. They were actually making a movie, they weren’t just shooting a concert.”

Luhrmann chose to leave in many shots where camera operators can be seen running around with their 16mm cameras for close-ups, “like they’re in the Vietnam War trying to get the best angles,” because we live in an era where we’re used to seeing cameras everywhere and Luhrmann felt none of the original directors’ concern about breaking the illusion. Those extreme close-ups, which were achieved by operators doing math and manually pulling focus, allow us to see even the pores on Presley’s skin — now projected onto a screen the size of two buildings.

The sweat that comes out of those pores is practically a character in the film. Luhrmann marvels at how much Presley gave in every single rehearsal and every single concert performance. Beyond the fact that “he must have superhuman strength,” Luhrmann says, “He becomes the music. He doesn’t mark stuff. He just becomes the music, and then no one knows what he’s going to do. The band do not know what he’s going to do, so they have to keep their eyes on him all the time. They don’t know how many rounds he’s going to do in ‘Suspicious Minds.’ You know, he conducts them with his entire being — and that’s what makes him unique.”

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Elvis Presley in Las Vegas in Aug. 1970.

Elvis Presley in Las Vegas in Aug. 1970.

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It’s not the only thing. The revivified concerts in EPiC are a potent argument that Elvis wasn’t just a superior live performer to the Beatles (who supplanted him as the kings of pop culture in the 1960s), but possibly the greatest live performer of all time. His sensual, magmatic charisma on stage, the way he conducts the large band and choir, the control he has over that godlike gospel voice, and the sorcerer’s power he has to hold an entire audience in the palm of his hands (and often to kiss many of its women on the lips) all come across with stunning, electrifying urgency.

Shaking off the rust and building a “dreamscape” 

The fact that, on top of it all, he is effortlessly funny and goofy is, in Luhrmann’s mind, essential to the magic of Elvis. While researching for Elvis, he came to appreciate how insecure Presley was as a kid — growing up as the only white boy in a poor Black neighborhood, and seeing his father thrown into jail for passing a bad check. “Inside, he felt very less-than,” says Luhrmann, “but he grows up into a physical Greek god. I mean, we’ve forgotten how beautiful he was. You see it in the movie; he is a beautiful looking human being. And then he moves. And he doesn’t learn dance steps — he just manifests that movement. And then he’s got the voice of Orpheus, and he can take a song like ‘Bridge Over Troubled Water’ and make it into a gospel power ballad.

“So he’s like a spiritual being. And I think he’s imposing. So the goofiness, the humor is about disarming people, making them get past the image — like he says — and see the man. That’s my own theory.”

Elvis has often been second-classed in the annals of American music because he didn’t write his own songs, but Luhrmann insists that interpretation is its own invaluable art form. “Orpheus interpreted the music as well,” the director says.

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In this way — as in their shared maximalist, cape-and-rhinestones style — Luhrmann and Elvis are a match made in Graceland. Whether he’s remixing Shakespeare as a ’90s punk music video in Romeo + Juliet or adding hip-hop beats to The Great Gatsby, Luhrmann is an artist who loves to take what was vibrantly, shockingly new in another century and make it so again.

Elvis Presley in Las Vegas in Aug. 1970.

Elvis Presley in Las Vegas in Aug. 1970.

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Luhrmann says he likes to take classic work and “shake off the rust and go, Well, when it was written, it wasn’t classical. When it was created, it was pop, it was modern, it was in the moment. That’s what I try and do.”

To that end, he conceived EPiC as “an imagined concert,” liberally building sequences from various nights, sometimes inserting rehearsal takes into a stage performance (ecstatically so in the song “Polk Salad Annie”), and adding new musical layers to some of the songs. Working with his music producer, Jamieson Shaw, he backed the King’s vocals on “Oh Happy Day” with a new recording of a Black gospel choir in Nashville. “So that’s an imaginative leap,” says Luhrmann. “It’s kind of a dreamscape.”

On some tracks, like “Burning Love,” new string arrangements give the live performances extra verve and cinematic depth. Luhrmann and his music team also radically remixed multiple Elvis songs into a new number, “A Change of Reality,” which has the King repeatedly asking “Do you miss me?” over a buzzing bass line and a syncopated beat.

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I didn’t miss Elvis before I saw EPiC — but after seeing the film twice now, I truly do.

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