That I told you so?
Holiday Sales Appear to Stall: Are Big Discounts Next?
By: John Melloy, CNBC
Published: Monday, 12 Dec 2011 3:57 PM ET
After early bird discounts fueled a Black Friday buying boom, retailers are seeing sales dry up halfway through the holiday sales period, a consumer survey completed Sunday showed. The trend may force discounts as deep as 70 percent on coats and flat panel TVs as Christmas Eve approaches.
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“While Black Friday sales appeared to give the retailers an early leg up in the season, I believe that continued high unemployment and economic uncertainty will keep spending muted for the vast majority of American consumers,” said Patty Edwards of Trutina Financial.“Retailers will announce a number of unplanned sales and discounts, hoping to surprise and delight customers into opening their wallets. The big question is how much is left in those wallets that isn’t pledged to the light bill.”
(h/t Chris in Paris @ Americablog)
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