Money Matters, Simplified.
Retailers pinning hopes on post-Christmas weekend
by Samia Sehgal - December 26, 2009 - comments
Its raining discounts as retailers try to gain sales during the post-Christmas weekend
New York, December 26 -- After an year marked with sluggish sales and recession-hit business, U.S. retailers are pinning their hopes on the post-Christmas weekend to raise their graphs before ushering in the New Year. With Christmas gone, retailers are expecting to make the most of the upcoming weekend.
Some of the major national chains are offering extended discounts and special deals to lure customers and get them to open up their wallets.
Tempting deals
Wal-Mart Stores Inc. had started offering holiday discounts back in September. All through this while, the retailer kept trying to entice the customers with better deals.
Be it giving as much as 50 percent discount on children’s toys or offering laptops for $250, Wal-Mart is throwing in plenty of appealing baits in the market, to ensure people keep coming back. The retailer is also offering interesting deals on gaming consoles, like a $50 gift card on purchase of Microsoft Xbox 360 players through Jan. 1.
As if recession was not enough, the weather also seemed to play against the retailers this time.
According to Chrissy Spoo, marketing manager of The Empire Mall, "If you take the storm out of the picture, we were expecting a huge day on Saturday.”
“It is the first time that the day has occurred on a Saturday in a long time, and retailers are counting on it to be a big day because it all comes together,” she added.
Retailers are leaving no stone unturned to pull their customers; several chains even decided to open their doors as early as 5 in the morning to pick up early sales. New York-based luxury retailer Saks Inc. decided to offer 70 percent discount for four hours, starting 8 a.m., to attract the early-shoppers; after noon the prices will again go up with discounts reverting to 40 percent.
Offers online
Besides, the deals online are also getting a boost, making it a win-win situation for all. Richfield, Minnesota-based Best Buy is also cutting down large chunks from the heavy price tags to lure more people. For instance, the price of a Dell Studio 17-inch notebook computer was brought down to $699.99 from $779.99.
Wayne, New Jersey Toys “R” Us also has a line-up of interesting bargains for the consumers. With every Nintendo Wii video game, the store is offering a second game for half the price.
Shopping post-season, though expected to wane, usually stays quite turbulent as consumers rush to redeem gift cards and return/exchange presents they do not want. According to Matt Powell of Princeton Retail Analysis, with Dec. 26 falling on a Saturday, stores this time could see bigger rush of shoppers than usual.