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Bargain-hungry shoppers flock to stores after Christmas
29 Dec '05
2 min read
Post-holiday heavy discounts given by the US retailers will assist them to make for unimpressive sales so far this holiday season as shoppers are coming back into stores after Christmas.
Federated Department Stores, Limited Brands, Gymboree and Talbots were among those retailers offering huge discounts with markdowns going as far as 65 percent.
Even retailers like Abercrombie & Fitch, who had stayed away from discounts this season are now offering deals to attract shoppers into their stores on the day after Christmas that is one of the 10 top shopping days in the year.
US consumers are shifting more of their holiday buying than ever before to the days after Christmas, while clothing and fashion retailers are giving more discounts to cash in on the traditional year-end bounce after an unexcited holiday shopping season.
Retail Forecasting Group analyst stated, "Based on what we've heard and seen so far, the fashion apparel stores are going to be hit with lower profits. Whatever strength fashion apparel did show came from deep markdowns."
US retail association National Retail Federation (NRF) predicted a 5 percent boost in spending to $435.3 billion (€368 billion) in September for the holiday season. In 2004, holiday sales rose 6.7 percent to $414.7 billion.
Federated Department Stores, Limited Brands, Gymboree and Talbots were among those retailers offering huge discounts with markdowns going as far as 65 percent.
Even retailers like Abercrombie & Fitch, who had stayed away from discounts this season are now offering deals to attract shoppers into their stores on the day after Christmas that is one of the 10 top shopping days in the year.
US consumers are shifting more of their holiday buying than ever before to the days after Christmas, while clothing and fashion retailers are giving more discounts to cash in on the traditional year-end bounce after an unexcited holiday shopping season.
Retail Forecasting Group analyst stated, "Based on what we've heard and seen so far, the fashion apparel stores are going to be hit with lower profits. Whatever strength fashion apparel did show came from deep markdowns."
US retail association National Retail Federation (NRF) predicted a 5 percent boost in spending to $435.3 billion (€368 billion) in September for the holiday season. In 2004, holiday sales rose 6.7 percent to $414.7 billion.
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