Low numbers mean more deals for you
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Doug Krizner: The retail numbers for Black Friday look decent — more than $10 billion in sales. Not surprisingly — it’s because stores were working extra hard to get your business. Jaime Bedrin reports from New York.
Jaime Bedrin: Remember when you had to wait until after the holidays for the big sales? This year, retailers are so concerned about the economy they’re doing just about everything to get your business.
Charmaine Tang is a Vice President in equity research with CitiGroup:
Charmaine Tang: The bottom line is driving traffic. Because most of these retailers, they’re are all on negative traffic numbers from last year.
Tang says stores started aggressive promotions earlier this year. She says the discounting and incentives are expected to be more hardcore than in the past.
Tang: We’ve already started to see aggressive promotions out of Wal-Mart, moderate department stores like J.C. Penney and Kohl’s. We think throughout the season, you’re gonna continue to see this sort of stance right until Christmas eve.
Tang says clothing will be an especially good value this year. A warm fall left stores with a lot of excess inventory.
Saleswoman: OK, so total is $60.69. Thank you!
Skincare company Kiehl’s is sticking to old-fashioned tactics. Clyde Johnson is an events director at Kiehl’s:
Clyde Johnson: Offering samples, offering tea, candy canes. Depending on the length of the line, we might be offering deluxe samples to encourage people to stay.
And if the thought of standing in line turns you off, retailers are paying equal attention to cyber shoppers. Many sites are offering free shipping and complimentary gift wrap. Now that sounds like a deal.
In New York, I’m Jaime Bedrin for Marketplace.
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