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If you shopped for Christmas presents, then you are aware that the stores which you shopped in had some pretty steep discounts on many items. In spite of sales with as much as up to 70% off in many retailers, holiday sales still took a plunge of at least 2% to 4% this season.
If early December half-price sales aren't enough, what can retailers do early in the new year when consumers spending slows even in a good economy?
Dan Butler, the National Retail Federation's VP of merchandising and retail operations, says many retailers will reassess their pricing to charge closer to what consumers think products are really worth. He says shoppers got savvier and asked "is it really worth it?" even when prices are drastically discounted.
I guess that they do not figure that those job losses and layoffs that we've had this year might have something to do with a decrease in spending for the holiday.
SpendingPulse data shows sales of women's clothing dropped nearly 23% while men's clothing sales slipped more than 14% in November and December compared with a year ago. Sales of electronics and appliances fell even more drastically, dropping almost 27%. SpendingPulse tracks total sales paid for by credit card and estimates those paid with checks and cash.
Did anyone do well this year? Of course, you know that Wal-Mart did well as did online retailer Amazon.com who says that this season was its best ever.
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