Retailers Expected To Offer Bigger Savings Than Usual On Black Friday To Clear Inventory That Piled Up During Sandy
NEW YORK(CBSNewYork) — New research shows that Black Friday and Cyber Monday may not offer the best deals for holiday shoppers. As Thanksgiving approaches many shoppers are doing their homework before they stand in-line or hit the web.
“I scan the bar code and it tells me what the retails price is and I compare it to a price online. I prefer the store to physically touch it or try it on, but then I go online and find it cheaper,” Omar Ali told CBS 2′s Jennifer McLogan.
Traditionally better deals are found online but, 2012 may be different, according to experts. Retailers may price items in a more aggressive manner in an effort to clear inventory that piled up during Superstorm Sandy, when many stores were closed.
Experts suggest that shoppers get out and start early, because retailers are desperate for holiday dollars.
“This year more than ever, retailers are looking for that early spend. That’s the healthiest, when consumers’ wallets are the fullest. So retailers are going to be very competitive, offering better deals in store than online,” explained Marshal Cohen, a Retail Analyst with NPD Group.
High end items like jewelry have already gone on sale and Black Friday will usher in huge video game and home fitness equipment discounts. Later in December online shoppers will see mark downs on laptop computers and TV’s.
Shoppers are advised to keep their receipts for 30-days, if prices fall lower than what they paid, some retailers will adjust accounts accordingly. But Black Friday shopping sprees aren’t for everybody.
“Some people like to go out in the chaos with the shopping on Black Friday. My wife loves to do it, I don’t prefer it, but I like online. I will do my shopping online,” said Shennen Maceo of Hicksville.
Thirty percent of shoppers are expected to buy things for themselves on Black Friday, electronics, bedding, and footwear are projected to be the biggest sellers, according to experts.
Are you planning on hitting the mall on Black Friday? Let us know in our comments section below…