Retailers' Discounts May Make For Worst U.S. Holiday Season In Six Years

U.S. retailers that lowered prices as much as 70 percent on the day after Thanksgiving may see sales eroded by steeper price cuts in what may be the worst holiday shopping season in six years.

Bargains such as Best Buy Co.'s Toshiba Corp. satellite laptop computer for $379.99, a $270 discount, and Gap Inc.'s buy-one-get-one free holiday sweater offer may leave retailers with slowing sales even as they entice more people to visit stores during the holidays.

Read the whole story here.

Comments

[rabiddog6708]

I'm waiting for the Untied States Going out of Business Sale. Jobs 25% off....Health Care....33% off....stock portfolios....50% off....the US dollar....75% off....Hope for a better tomorrow....buy one foreclosed house and get another free.

[Harrier]

To the writer of this story: Maybe it's a myth, but statistically, it appears everyone believes this black friday is better than last year. When you write an article, it is best to base your opinion on some type of fact and avoid having a Katrina moment

[bluguy8]

Retailers are under the misconception that every year they should be topping the business from the previous year . well , welcome to the real world. It won't always happen. and if you had something worth buying it wouldn't need to be marked down. get better buyers to start with . buy things made in the USA--yes things are still made here . Buy something different for a change-- turtlenecks can take a 3 year break.

[pangurban]

It seems just about everything is made in China. Altho, I bought a stainless pressure cooker that was made in Spain! I couldn't believe it.

[TruthaboutIraq]

and I bought a Kitchen Aid mixer made in the USA here in the Netherlands.........500 Euros but built like a brick shitehouse. Very good buy.

[stayinsouth1981]

Ahhhh the Holy Grail of mixers in my mind. I finally talked my parents into giving each of us one for wedding gifts. I didn't wait to get re-married to get mine.. heheheheheheheh

Get the meat grinder attachment, it rocks~

[SpectCon]

Angelic. In the early years of the Great Depression many said the same thing. The problem is, this isn't just talk. Even if it began as talk (which is a stretch) we are FAR past talking. Everywhere you look you see institutions failing or on the brink of collapse.

Our only hope is that Obama's team can spend us out of a severe depression and keep the world from falling into WW3. Right now, this is just seeping in for many people.

If you're making your mortgage payments, don't face layoff, and aren't invested in the markets (401k's and IRAs count)...then you're lucky. This will touch you though. It's too big not to.

[SpectCon]

BTW, I'm not trying to be hyperbolic saying WW3. There is a good reason for suspecting major wars are just around the corner.

Bad economies lead to rises in nationalism and protectionism. Demagogues prosper. To ameliorate the bad economy the easiest thing a government can do is spend money. Typically, the easiest thing to get people to spend money on is the military. (And the military is good stimulus in that it involves heavy industry, technology, and directly can employ the unemployed.)

Mix nationalism with military build-up and demagogic politicians and you have a recipe for war.

[Angelic11]

Your hypothesis: "military is good stimulus"

we should be well stimulated; we're in two wars (one invasion). Truth is . . . Iraq has been like a giant vortex and the profiteers i.e. Blackwater, Halliburton

oh, see what you mean...

for the rich tough in this case.

[Angelic11]

It already has "touched" me...my point is spiritual...in that we create our own reality with our words; if we continue to "wallow" in despair, we will continue to wallow in despair. "it's bad,it's getting worse, futures not-so-bright" Heck!; let's show one another how to make it brighter. When light comes in-darkness must flee.

I'd like to see these doom-forecasters and naysayers come up with articles and proposals of ideas to help people rise up to this country's potential.

It's a brand new day! It's hard work, but we can dig ourselves out of this hole...Believe that.

[SpectCon]

Well, at least we elected Obama. Come Jan 20th we'll have an administration who isn't ideologically handcuffed. The major stimulus should have already come, instead Bush's team is patching leaks.

And, we do know that there are tons of jobs and infrastructure our country needs. Mass transit, a new energy grid, nuclear waste disposal facilities, fiber optic to every home, better roads, new schools, R & D for major scientific undertakings like the Superconducting Super Collider that never was built, research into nano tech, etc...

Also, Obama's team has a Democratic Congress to get their stuff passed. If we get some sort of universal health care done, pull that expense off the books from US employers, our labor would be far more competitive.

[OtayPanky]

Angelic11: It already has "touched" me...my point is spiritual...in that we create our own reality with our words;

===

If that's true, then how in the world could others' words "touch" you in your reality?

If you've been "touched", it's clearly your own fault, due to your own words, not others'.

Am I right...or is CYOR just a bunch of Oprah-fried metaphysical chicken?

[stayinsouth1981]

Put in a victory gardern. There is nothing like picking fresh peppers or tomatoes that you have grown.

[monty]

Awww, poor retailers aren't going to be able to push their garbage products onto stupid people anymore because the stupid people have no more money because the stupid people keep voting the same idiots back into office over and over and over again. You all get what you deserve!

[Angelic11]

got what we deserve? finally. and we got Obama

[SpectCon]

I don't think we're nearly afraid enough. Things are way out of whack. We have the world's 1st or 2nd largest insurer collapse (AIG), Lehman Brothers fails, the 1st or 2nd largest commercial bank collapses (Citi), Fannie and Freddie who underwrite half the residential mortgages in the country fails and has to be taken over by the Feds, Detroit faces eminent collapse, major retail chains are going bankrupt, unemployment is spiking, houses prices are in free fall, credit card defaults are going through the ceiling, foreclosures continue to increase.

And, all of the sudden, gas has fallen to about 1/3rd its value 6 months ago...

Figures like 2 trillion in stimulus are being thrown around. Another 700 billion is a forgone conclusion at this point.

And this isn't just us....this is the world's economy that's tanking.

Last time something like this happened you ended up with Europe imploding (literally) with WW II and the US emerging as the new world leader. Now lots of countries have nuclear weapons and America may implode.

[Jezdukowski]

Oh, c'mon you're not being optimistic.

[Rove]

Save your money for the after-xmas sale.

[Angelic11]

I believe we are talking ourselves into this recession; words are powerful...if the media, pundits and poobahs says it's going we're going to continue to spiral downhill---people get frightened and hold on conduct themselves accordingly.

Couldn't we just try to be a bit more optimistic?

[Jezdukowski]

What? All I've seen from the media is "GO SHOPPING" it's "BLACK FRIDAY." People are hurting, REALLY hurting. Whatever, I'm tired of being optimistic, now I'm pissed.

[OtayPanky]

Words are powerful. But what's really powerful is mis-managing your money.

Here's an experiment for you: Go out and buy a copy of THE SECRET, and then rack up debt that's 10 times your yearly salary on credit cards.

Keep talking positive, and then let's see you create your own reality so you don't file for bankruptcy.

[darthdarcy]

Worse for who, the consumers..?

I think not..!

Why is it the free market system cannot work in both directions and is only good when it favors the corporations..?