Anticipating the "weakest holiday season since 2002," online retailers push special offers & promos

Amerigo Vespucci

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Sun Nov-25-07 06:45 PM
Original message

Anticipating the "weakest holiday season since 2002," online retailers push special offers & promos

Sunday November 25, 4:12 pm ET
By Samantha Bomkamp, AP Business Writer
As Competition Increases Online, So Do Promotions and Discounts for Shoppers

http://biz.yahoo.com/ap/071125/holiday_shopping_online_perks.html

NEW YORK (AP) -- As consumers hold tight to their wallets, online retailers will work harder this year for their share of the holiday gift list. With a holiday season that is expected to be the weakest since 2002, and numbers of new online customers leveling off, more Web retailers have been pushing special offers and promotions to draw consumers.

As the online holiday shopping season officially kicks off Monday, a number of retailers are hosting one-day sales or special offers for the occasion. The Monday after Thanksgiving, tagged "Cyber Monday" by the National Retail Federation, marks the first big online shopping surge for many merchants, as consumers go back to their work computers.

Toys "R" Us Inc. will hold a one-day online sale and rival eToys.com will launch a two-day sale. Wal-Mart Stores Inc. will begin five days of online-only sales. Online jeweler Blue Nile Inc. will give customers 20 percent off purchases paid through PayPal, eBay Inc.'s electronic payment division. Target Corp., Circuit City Stores Inc., Sears Holdings Corp., Crate & Barrel, the Discovery Store and Overstock.com Inc. are among dozens of retailers offering free shipping that day.

"The online community is getting more competitive as the amount of new customers slows," according to Scott Silverman, executive director of Shop.org, an online arm of the National Retail Federation. "Add to that the concerns about the economy, and promotions and sales provide a great way to get people excited."

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muriel_volestrangler

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Sun Nov-25-07 07:01 PM
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1. Meh. "Holiday Season Kicks Off With A Bang After Strong Black Friday Sales"

The 2007 holiday season for national retailers started with a bang with the season's first major shopping day, Black Friday, the day after Thanksgiving, registered strong sales growth. Eager shoppers stormed malls and stores across the country to buy the early-bird specials that mark "Black Friday," the first official day of the U.S. holiday shopping season.

According to ShopperTrak RCT Corp., which tracks sales at over 50,000 retail outlets, total sales grew 8.3% to about $10.3 billion on Friday from $9.5 billion on the same day prior year.

Meanwhile, International Council of Shopping Centers, or ICSC, U.S. retail chains are expected to post 2.5% increase in same-store sales this November and December over last year.

Total holiday sales are expected increase 4% to $474.5 billion, the slowest growth since a 1.3% rise in 2002, according to National Retail Federation. Holiday sales rose 4.6% in 2006 and growth has averaged 4.8% over the last decade.

http://www.rttnews.com/sp/todaystop.asp?item=1

So "the weakest holiday season since 2002" means "growth of 4% over last year", and probably, therefore, "the strongest season ever". It's just that the growth isn't as much as last year.

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qdemn7

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Sun Nov-25-07 07:45 PM
Response to Reply #1

3. Bah!

I guess "growth" isn't really "growth" unless it's "double digit growth". :mad: :puke:

Goddamn economists are never and I mean NEVER happy.

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Liberal_in_LA

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Sun Nov-25-07 07:34 PM
Response to Original message

2. Other than toys for the kids do most Americans really NEED more stuff?

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qdemn7

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Sun Nov-25-07 11:36 PM
Response to Reply #2

4. Unless you are paying other folks bills

Who are YOU to determine what other folks need?

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