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Retailers slash prices for shoppers seeking deals after Christmas
By MATT HOLLIS
Black Friday Part II. No, it is not a horror movie. It is Dec. 26 and that is traditionally one of the busiest shopping days in the year.
The first Black Friday occurs the day after Thanksgiving and opens the Christmas shopping season.
This year, worries over the economy had most retailers wondering if their stores would make a profit. This has prompted some retailers to offer a drastic reduction in prices to clear out their stores of old merchandise and bump up their not-so-great holiday sales.
According to SpendingPulse -- an information service provided by MasterCard Advisors, a subsidiary of MasterCard Worldwide – retail sales for November and December through the 24th were down between 5.5 and 8 percent. Not counting automobile and gasoline prices, this is about 2 percent to 4 percent down from this time in 2007.
Some stores have slashed prices on merchandise to help those who are feeling the economic crunch this year.
“We help people stretch their dollars by helping to cut costs,” said Ashley Hardie, Wal-Mart spokesman. “We do that either through gift cards or holiday sales.”
Hardie added that Wal-Mart is going to have additional sales starting Sunday on items such as television sets and video games. Already, some Wal-Marts are offering televisions measuring 21 to 29 inches, with some starting at $399. Other stores are offering merchandise with as much as 50 percent to 75 percent marked off the regular price. This merchandise included toys, electronics, furniture and clothing.
Another aspect to the Dec. 26 shopping day is the fact that many people return gifts they received on Christmas. It is not always because they just did not like the gift. Sometimes the clothes do not fit or an item does not work.
Long lines result from people returning gifts that for whatever reason did not satisfy the person.
“This is the worst so far I have ever seen,” said Diantra Loston, a shopper at the Wal-Mart on I-10. “These lines are long. But, it has been an OK Christmas. Everyone has been real active.”
The Wal-Mart on Wallsiville has been doing its best to make sure the Christmas season went well for customers. The store adopted Tice Elementary, offering food, clothing and other items. In addition to donating to the local police and fire departments, scholarships are awarded to area high school students, as well.
“We try to make sure they are in good shape,” said Randy Hicks, the Wallsiville Wal-Mart store director. “We try to do what we can to help them out.”
Job losses are one factor that most people believe contributed to the decline in sales for the 2008 holiday shopping season.
“If they are able to have more jobs available, then maybe next year it will be better,” Loston said. “Maybe it won’t be like this.”
Some stores have hope that the coming year will bring an economic upswing.
“We believe we are well positioned in the economy,” Hardie said. “(Wal-Mart is) going to use the same strategy we have for over 40 years – offer great products at a great price.”
The first Black Friday occurs the day after Thanksgiving and opens the Christmas shopping season.
This year, worries over the economy had most retailers wondering if their stores would make a profit. This has prompted some retailers to offer a drastic reduction in prices to clear out their stores of old merchandise and bump up their not-so-great holiday sales.
According to SpendingPulse -- an information service provided by MasterCard Advisors, a subsidiary of MasterCard Worldwide – retail sales for November and December through the 24th were down between 5.5 and 8 percent. Not counting automobile and gasoline prices, this is about 2 percent to 4 percent down from this time in 2007.
Some stores have slashed prices on merchandise to help those who are feeling the economic crunch this year.
“We help people stretch their dollars by helping to cut costs,” said Ashley Hardie, Wal-Mart spokesman. “We do that either through gift cards or holiday sales.”
Hardie added that Wal-Mart is going to have additional sales starting Sunday on items such as television sets and video games. Already, some Wal-Marts are offering televisions measuring 21 to 29 inches, with some starting at $399. Other stores are offering merchandise with as much as 50 percent to 75 percent marked off the regular price. This merchandise included toys, electronics, furniture and clothing.
Another aspect to the Dec. 26 shopping day is the fact that many people return gifts they received on Christmas. It is not always because they just did not like the gift. Sometimes the clothes do not fit or an item does not work.
Long lines result from people returning gifts that for whatever reason did not satisfy the person.
“This is the worst so far I have ever seen,” said Diantra Loston, a shopper at the Wal-Mart on I-10. “These lines are long. But, it has been an OK Christmas. Everyone has been real active.”
The Wal-Mart on Wallsiville has been doing its best to make sure the Christmas season went well for customers. The store adopted Tice Elementary, offering food, clothing and other items. In addition to donating to the local police and fire departments, scholarships are awarded to area high school students, as well.
“We try to make sure they are in good shape,” said Randy Hicks, the Wallsiville Wal-Mart store director. “We try to do what we can to help them out.”
Job losses are one factor that most people believe contributed to the decline in sales for the 2008 holiday shopping season.
“If they are able to have more jobs available, then maybe next year it will be better,” Loston said. “Maybe it won’t be like this.”
Some stores have hope that the coming year will bring an economic upswing.
“We believe we are well positioned in the economy,” Hardie said. “(Wal-Mart is) going to use the same strategy we have for over 40 years – offer great products at a great price.”
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