Retailers Plan Deeper Discounts and Earlier Sales, Says National Retail Federation
A Holiday 2008 spending forecast just released by the retail trade group, National Retail Federation, also predicts aggressive counter-measures. Holiday retail sales are expected to grow this year at the slowest rate in six years. That has even Big Box retailers worried as shoppers jittery about the economy shift to Essentials Only buying and are slower to part with their gift-buying money. Retailer counter-measures include:
· Aggressive discount pricing, particularly for non-essentials and gift goods;
· A blitz of pre-Thanksgiving sales and sale promotions to attract frugal holiday shoppers even earlier this year;
· Price ceilings on holiday gift marketing, such as the Gifts For Under $25 promotions planned by major retailer Target Corporation.
Moving up the supply chain, resellers are looking for more below-wholesale and off-price specialist product sources. Wholesaler “Deals, Steals, Specials” promotions will attract more buyer attention in Essentials categories like Children’s Clothing Bargains and deeply discounted Jewelry and Fashion Accessories.
