November 17, 2008
ALBANY, GA (WALB) - Christmas decorations are on display at stores across the country. Alongside the garland and ornaments, signs promoting sales and discounts. Amid a gloomy economy, one thing that shoppers will be paying close attention to this year is the price tag.
"You would go and a have fun Christmas shopping and don't mind if you spent a little extra. But this year we're trying to cut back and find deals at different places," says Jennifer Walden.
Walden, a mother of two, is not alone in her hunt for a bargain this holiday shopping season. Analysts predict many consumers will flock to discount retailers for named brand merchandise at a marked down price.
She says, "That's why I come to places like T.J. Maxx to try and find a good deal on a name brand item."
As consumers have tightened their budgets, discount retailers like T.J. Maxx are stocking up on typically high-dollar apparel like Polo, Calvin Klein, and Ralph Lauren. The slowing economy has forced many high-end retailers to market excess merchandise to off-price retailers - a trend that could continue even after the holiday shopping season has ended.
Non-traditional consumers, who prefer shopping on the web, are also cashing in on the bargains. Overstock.com, an Internet based retailer, which offers discounts on items ranging from clothes to flat screen televisions, is seeing more buying opportunities this shopping season.
"People aren't spending as much as they have in years past, but we're seeing good amounts of traffic on the demand side. On the supply side, we're seeing a tremendous number of buying opportunities. Our buyers are able to go out and be far more selective and really go out and get the cream of the crop buying opportunities," says Jacob Hawkins, Vice President of Change Management at Overstock.com
Tis the season for shopping on a budget and finding good deals as retailers hold their breath for what's to come in just few shorts weeks.
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