By Sarah Halzack November 27 at 8:40 AM Follow @sarahhalzack
By the time she arrived at Kmart just before 6 a.m. Thursday morning, Antoinette Wood had already seasoned her turkey. The sweet potatoes were done, the decorations were up, and the house was cleaned to welcome her guests.
And with her Thanksgiving preparations set, Wood sought to get a jump-start on Christmas, loading up her cart with a $4.99 iron, the $8.99 Operation board game and a $10 Barbie convertible and doll set.
Wood was lured to the big-box retailer’s outpost in Hyattsville, Md., by the cheap prices, but also by the tradition of meeting her sisters for some early-morning deal-chasing.
“It makes for fun for the holiday,” Wood said.
Millions of consumers are expected to join Wilson on Thursday in taking their turkey with a side of shopping. As the retail industry has pushed its annual barrage of door buster deals from Black Friday into what some now call Black Thursday, deal hunters are flocking to the mall or firing up their computers to take advantage of an outpouring of discounts and special offers.
Analysts and economists say this holiday season is poised to give retailers more reason for Christmas cheer than the holiday seasons of the recent past. The economy is healing, the jobless rate is down, and consumers have fatter wallets thanks to lower gas prices, which should encourage shoppers to spend less cautiously. One quarter of U.S. shoppers said they planned to spend more on
holiday shopping this year, according to a survey by Accenture, compared with the 20 percent who said the same in 2013.
The National Retail Federation expects the industry to see 4.1 percent sales growth this year, compared with the lackluster 3.1 percent reported for the last holiday season.
And yet retailers are girding for a hard fight for your holiday dollars, in part because many consumers are still not willing to spend unless they see steep discounts or promotions.
That focus on reduced prices is what prompted Mt. Rainier resident Kem Stevens to make a pre-dawn trip to Kmart on Thursday.
“I am a couponer,” Stevens said. “I ain’t paying full price.”
Waiting in line outside, Stevens said she planned to buy a DVD player and some tablets for her grandchildren and a friend’s children. Once inside the store, she loaded up her cart with more discounted items: Roller skates marked down to $12.99, a pillow marked down to $1.99. After a committed but fruitless hunt for a $16.99 “Frozen” blanket and pillow set — the one item in the Kmart circular that her grandson circled for his Christmas list — she settled on another “Frozen” item for him. It may not have been the perfect gift, but she suspected it would still be well-received.
Experts see the fixation on discounts as a battle scar of the recession: In 2008, in the wake of the financial crisis, retailers aggressively slashed prices during the holiday seasons in a frantic attempt to unload their merchandise. That promotion merry-go-round kept circling long after the holidays, and customers became trained not to pounce until they saw “30 percent off your purchase” or some other alluring offer.
Amid this fiercely promotional environment, many big retailers say they are only cautiously optimistic about the holiday season. Wal-Mart and Best Buy are both forecasting modest to no sales growth during the fourth quarter.
While in-store events remain a centerpiece of major retailers’ Black Thursday strategies, many also launched an array of online deals on Thanksgiving to appeal to shoppers who would rather not hit the stores during the holiday. Wal-Mart, for example, offered a Samsung 55-inch 4K TV for $1,298, a $900 savings, on its Web site Thursday morning. Kmart’s digital shoppers saw the price of the “Frozen” Elsa doll, one of this holiday seasons hottest toys, dip from $39.99 to $29.99. Black Friday’s creep into Thanksgiving, of course, has been a turnoff for some shoppers. Petitions on Change.org and chatter on social networks show that some consumers plan to steer clear of stores on Thursday to demonstrate to retailers that they don’t think a family holiday should be transformed into a spending spree. But even as some consumers urge stores to shutter their doors, data show that online shopping on Black Thursday is on the rise. Cloud computing company Akamai Technologies found that Thanksgiving Day traffic to retail sites was 21 percent higher last year than in 2012, suggesting that enthusiasm is growing for online shopping on the holiday.
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