Will an earlier opening for stores help retailers on this shortened holiday shopping season? Milanee Kapadia talks with experts and shoppers about what’s in store this year and Erin Clarke checks out the Queens Center Mall .
Shoppers had the opportunity to get a leg up on their holiday lists as retailers opened up even before the turkey was digested. More than a dozen major chains opened on Thanksgiving, putting Black Friday in danger of becoming Blah Friday.
“I don’t think it’s going to help retailers, but I think if one does it the other thinks they have to do it, it’s a battle for marketshare with a weak consumer,” said retail analyst Howard Davidowitz.
More than three months before Christmas, Kmart began airing commercials featuring a giant gingerbread man, a snowman and the slogan, “Don’t let the holidays sneak up on you.”
The National Retail Federation says sales in November and December account for as much as 40 percent of U-S retailers annual revenue.
Shopper Loren Diers found the earlier and earlier trend disturbing.
“I think that’s just ridiculous, that’s ludicrous,” said Diers.
This year’s holiday season is six days shorter than last year, making up only 25 days instead of the 31 shopping days we had in 2012.
“It’s gonna eat into retailers, you have a shorter season, and that’s why they’re doing more now,, they have to do more at the beginning because you have six fewer days,” Davidowitz said.
Morgan Stanley’s retail analyst forecasts a weaker holiday season with average comparable store sales growth of 1.7 percent, that is less than half of last year’s growth.
One factor is weaker consumer confidence. It fell this month to the lowest level in three months, as Americans expressed concern about hiring and pay increases. Morgan Stanley says shoppers can expect to see more discounts and deals as retailers work to lure customers.
“I feel they got really cheap TVs and that’s gonna get people coming out,” said one New Yorker.
Whether it will get them to really open up their wallets this holiday season remains to be seen.
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via Great Local News: New York http://newyork.greatlocalnews.info
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