Word: price
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Dates: during 2000-2009
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Still, the deepest discounting will likely come from retailers that sell electronics, books and toys, where competition from online vendors is fierce. Pricing wars have already erupted, with Walmart going head-to-head with Amazon. The two chopped prices on hot new hard-cover releases to less than $10 apiece for shoppers who preordered books on their websites. Similar price battles have been launched in toys and electronics, with Walmart's chief merchandising officer, John Fleming, proclaiming, "We're going to be the price leader for this holiday season." Best Buy's executive vice president of customer operating groups, Mike...
...retailers have planned for this season's frugality, ordering up to 20% less inventory, making them less susceptible to mid-December price-slashing. "You clearly aren't going to see the kind of discounting that you saw last year," says Stephen Sadove, chairman and chief executive of Saks Inc. Wayne Hood, an analyst at BMO Capital Markets, agrees. "We're expecting 50% [markdowns] to be kind of the norm this year vs. maybe 75% last year," he says. (See 10 things to buy during the recession...
...discounting can only go so far before it no longer makes financial sense. For this reason, promotions and price discounts will likely be strategically planned, not panic-driven as they were last year, says Howard Davidowitz, chairman of Davidowitz & Associates Inc., a national retail consulting and investment firm...
...will come down to a game of chicken, in which consumers face off with retailers over price to see who blinks first, says AlixPartners' Eshelman. But with inventories significantly lower, the desperate markdowns may never happen. "Retailers are focused much more on profitability than on sales growth," he says. "So I think retailers have a better chance of winning that game of chicken this year than in years past...
...Part of the price for that new reality, many in India believe, is a downgrading of their own concerns. Singh will be in the U.S. on the anniversary of last year's Mumbai terror attacks, which were orchestrated by Pakistan-based groups with traditional ties to Pakistan's military intelligence organization, the ISI. But while Obama and his Afghanistan envoy, Richard Holbrooke, have urged India to make concessions on the decades-old Kashmir dispute in order to help Washington's efforts to persuade the Pakistanis to focus more resources on fighting the Taliban, little has been done to coerce Pakistan...