Word: year
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Dates: during 2000-2009
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...until now, retailers have managed to avoid the panic discounting that plagued last year's Christmas season, mainly because many ordered up to 20% less inventory in anticipation of fewer customers. But with sales even more sluggish than projected and consumers keeping their pocketbooks closed longer, experts believe shop owners will slash prices sharply in the final two days. See the best business deals...
...Last year was the worst Christmas in 40 years and we're tracking below that right now," says Howard Davidowitz, chairman of Davidowitz & Associates, a retail consulting and investment banking firm.. "The whole [holiday season] will be determined by the last two days before Christmas...
However, analysts believe the big 70% markdowns are more likely to be strategically slapped on certain items rather than spread store-wide as they were last year. "We're definitely expecting to see a lot of promotions in the days before Christmas, but we are not likely to see the blanket discounts and markdowns that we saw a year ago," says Ellen Davis, a spokesperson for the National Retail Federation. "You probably won't walk into a store and see signs for 60%, 70% or 80% off everything."See pictures of retailers which have gone out of business...
...only buying items that are on sale and we think people are still holding out to get the best deal possible," says Grannis. "There could be great deals, but they're not going to be the 70% [across the board sales] that they saw at this time last year...
Sheila Rose, a 50-year-old mother of two in Stamford, Conn., is typical of shoppers who have been sitting on their hands waiting for the final markdowns. With unemployment hitting a 25-year high, she expects discounts to at least match last year's levels, "or maybe even more given the situation." Says Rose: "I think there will be some real hidden gems there towards...