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Inflation will be the double-edged sword in holiday shopping this year.
通胀将是今年假日购物的双刃剑。
It's making things cost more, but at the same time, it's leading retailers to give bigger discounts.
商品会变得更贵，但同时零售商也会给出更大的折扣。
This year, people are going to be spending a lot less.
今年，人们的支出将会少得多。
The volume should be around the same, but the actual dollar amounts are going to be lower.
支出的金额应该会大致相同，但其实际代表的物品价值更低。
We talk about inflation and what it's been causing us to cut back on.
我们谈论的是通货膨胀，以及它导致我们削减开支的原因。
And for the most part, our budgets are dedicated a lot to necessities.
我们预算的大部分都花在了必需品上。
Think about gas, food, and when we're spending more money there, we have to cut back elsewhere.
例如汽油和食物，当我们在必需品上进行大量支出时，就必须削减其他方面的开支。
And that's coming with electronics, it's coming with gaming systems, all of that, which you typically buy a lot more of during the holidays.
例如电子产品、游戏系统这些你通常会在假期购买的产品。
And retailers ordered a lot more of that ahead of the holiday season and now they're stuck with all this inventory and they're trying to discount that.
零售商会在假日季前增加此类商品的订购，现在这些库存积压，他们想要打折。
Discounts are coming earlier than they have before.
开始打折的日期比往年更早。
And that's just so retailers can get rid of some of this inventory that they've already brought in.
这只是因为零售商想处理掉他们目前已有的库存。
A lot of us are accustomed to waiting around for Black Friday, Cyber Monday.
我们很多人都习惯于在黑色星期五、剁手星期一的时候购物。
You always think that the deals get better as the holiday season heats up.
人们总是认为，随着假日季的升温，会出现更大的优惠。
That's not really going to be the case this year.
但今年的情况并非如此。
For retailers, the holiday season is probably the most important time of the year for them.
对于零售商来说，假日季可能是一年中最重要的时间。
The National Retail Federation says that it accounts for about a fifth of their total sales in the entire year.
美国零售联合会表示，假日季的销售额约占其全年总销售额的五分之一。
Plenty of research reports out there are saying that this is going to be the biggest year of discounts.
大量研究报告称，今年将是折扣幅度最大的一年。
For businesses, that hurts them a bit.
这对企业来说不太友好。
Their margins are going to be pretty tight.
他们的利润率将会非常低。
They can't get away with charging whatever they want.
他们不能随意收费并逍遥法外。
It really does show the uncertainty about the economy and people's fears about a recession.
这确实说明了目前经济的不确定性和人们对经济衰退的担忧。
You want to cut back your spending now in case you lose your job and are relying on savings.
人们现在就想削减开支，以防出现失业时需要依靠储蓄生活的情况。
I think it's something on everyone's mind as we keep reading more headlines about layoffs or hiring freezes.
我认为，随着越来越多裁员或招聘减少的头条新闻出现，这是所有人都在考虑的问题。
