Word: year
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Dates: during 2000-2009
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Marshall Cohen, chief retail analyst at NPD Group, sees the Black Friday glass as half-full rather than half-empty. "The fact that retailers were able to sell as much, if not more, product at a 40% discount, compared with last year's 75% storewide discount, was positive," says Cohen...
Even QVC, which sells merchandise on its shopping channel and website, reported more than 765,000 orders totaling $32 million in sales on Black Friday - the highest level in the company's 23-year history and 60% more than last year's Black Friday sales...
Black Friday's business has left Davidowitz bearish on retailers' prospects this holiday season. "I expect total holiday sales will be down 1% to 2% - going against last year, which was the worst Christmas in 40 years...
Davidowitz doesn't believe discounting will reach last year's 80% levels, mainly because most retailers ordered up to 20% less inventory this year. "They won't be as panicked or as big," he says. The 70% discounts will likely be offered on select items rather than store-wide, as they were last year...
Read "Holiday Shopping: This Year It's a Game of Chicken...