Christmas may be over, but the holiday season continues for retailers.
Stores opened early on Wednesday, the day after Christmas, and slashed prices with the hope of saving the 2007 holiday season from disappointing early December sales.
At Macy’s in midtown Manhattan, Malcolm Brown, 20, a college student from Brooklyn, and three of his cousins came looking for bargains with money he received for Christmas.
“You can find a good deal if you look, you just got to beat the crowds,” said Brown.
But that was easier said than done at the world-famous department store in midtown Manhattan, where the crowds were so deep that store employees played traffic cops – regulating the number of people allowed on the escalators.
Merchants have been hoping for a post-Christmas bump from bargain hunters and gift-card spenders that could salvage what is traditionally the most important period of the year in the retail industry.
One of the nation’s largest retailers, Target Corp., warned late Monday that its sales might decline for December. Meanwhile, a report from Mastercard Inc. – based on estimates of spending by check and cash – showed a less-than-expected increase of 3.6 percent from last year’s Thanksgiving to Christmas period.
To lure shoppers, Toys R’ Us, which threw open its doors at 8 a.m. on Wednesday, two hours earlier than last year, offered 40 percent price cuts on all MP3 and iPod accessories. Macy’s marked down cashmere sweaters by up to 75 percent off, and Saks Fifth Avenue cut prices on fur coats as much as 60 percent.
But there is at least one piece of good news in retailers’ stockings: Gift card sales, which have been a growing part of Christmas sales in recent years, are not recorded until shoppers redeem them. The National Retail Federation says consumers were expected to spend a total of $26.3 billion in gift cards this holiday season, up 42 percent from $18.5 billion in 2005.
For some shoppers, like Doris O’Brien of Clinton Hill, who shopped Wednesday at a Target store in Brooklyn, it’s never to early to start thinking about next Christmas.
“I just came for the ‘Harry Potter DVD’ [for my 7-year-old son], but I ended up buying a snowman, some lights and a star,” said O’Brien. “I took advantage of the sales.”
- RHONY star Luann de Lesseps wears a fur jacket as she takes advantage of the post Christmas sales in the Hamptons
- Cyberpunk 2077 pulled from online stores days before Christmas over massive glitches
- It's harder to find sale items at the grocery store
- Marks & Spencer stores in FRANCE are left empty as supermarket is latest company affected by Brexit red tape - while millions of pounds of British meat is left 'rotting in Rotterdam' by EU officials because 'a VET'S form was incorrectly filled in'
- Christmas on the UK high street: where did shoppers spend their money?
- Shoppers are going wild for Big W's new $19 PORTABLE blender - but it falls short in one crucial function
- 'What an eyesore': Target's $89 wooden Christmas tree is slammed by customers - but others can't wait to decorate their homes with the design
- REVEALED: The $99 light-up luxury Christmas tree is set to fly off shelves ahead of the festive season
- Hamleys is accused of 'ruining Christmas' after customers claim orders from November STILL haven't arrived while others say they have been left with missing items - and many say they can't get a response from toy giant
- Shoppers and pub drinkers set to spend £1.5bn on 'Stupor Saturday' just days after lockdown
Stores lure post-Christmas shoppers have 578 words, post on www.nydailynews.com at December 26, 2007. This is cached page on Europe Breaking News. If you want remove this page, please contact us.