Post-Christmas shoppers are getting great deals
Story By: Jamie Smith
Source: NBC
Published Mon Dec 29, 2008, 08:53 AM MST
Updated Mon Dec 29, 2008, 08:53 AM MST
50, 60, 70% off and more. This after-Christmas sale day brought some amazing prices to the nation's retail stores. But was it enough to get customers shopping again?
Consumers are trying to do today what they've been doing this holiday season, fill their carts without emptying their wallets.
For sharp-eyed shoppers, this was a sale day to remember. Bargain hunter Kiana Watkins says "I feel like the stores are giving better discounts and better prices."
Struggling retailers rolled out some eye-popping prices, desperate to woo customers and get rid of Christmas stock that didn't sell.
Marshal Cohen, the Chief Retail Analyst at NPD Group, says "the sales that we're seeing right now are probably one of the best sales that we're going to see in the next decade."
Scott Krugman of the National Retail Federation says "consumers have played one giant game of chicken with retailers this holiday season, and they've clearly won."
It's clear shoppers have changed their habits in these tough times. Luxury items like jewelry just didn't move this year. Electronics may have topped everyone's wish list but underwear was the surprise big seller.
Kayla Reno got her new phone the day after Christmas. Her Dad, Michael, saved a few bucks.
Online retailers fared better. Amazon.com claimed its best holiday season ever.
Retailers say the holiday sales season isn't finished and neither is the fight to win back customers. One early analysis suggests sales this holiday season plummeted 5.5-8% compared to last year.
