Retailers Expecting Holiday Slump

by Nicole Hulley

holiday Recent polls have suggested a steep decline in holiday shopping this year, with 45% of consumers estimating they will spend less in the retail market. The season isn’t expected to be a total washout, with 80% still planning on purchasing gifts.

While we got some amazing deals at last year’s sales, the deep discounts are a double edged sword. Retailers offer more sales and discounts to stimulate sales, shoppers wait to purchase in hopes of further discounts. And while 70% off is too good to ignore, for the general health of the industry we’ll try to lower discount expectations this year. Interesting to watch will be sites like Gilt, Rue La La and Hautelook, who already offer discounts up to 50% off on designer items every day. Will they take the bargain hunting dollars that department stores and brands are afraid to court?

Where will you be doing your holiday shopping?

Read More {NY Times}

October 29, 2009