Economic Turmoil - Silver for Early Shoppers
As we all know the economy is in bad shape; rising inflation, surging foreclosures and large layoffs are looming. The trickle down of these enormous economic issues are beginning to affect us all. With the future so uncertain retailers large and small are beginning to do what they feel they must in order to keep up with their past holiday revenues. Most of these retailers do 50 - 75% of their yearly revenue during the ''holiday push''. They know in order to keep business moving, they must maintain these numbers this holiday season.
Not to mention online retailers are taking a larger percentage of shoppers every year from the in-store retailers. Online retailers are able to sell the same product for a much cheaper price due to the lack of overhead and operating expenses. The online retailers also don't have the inventory problem facing many of the in-store retailers. Since online retailers are generally set-up for large storage and inventory they don't have to guess on how much of a certain item they should order. They simply follow their business plan and order a large amount of every product they sell, leaving you a much wider range of items to purchase.
Now, you're probably wondering, how does this help you? It helps you, the consumer, in many different ways and most retailers are already making strides in order to increase their holiday revenues.
First, they are beginning their sales much earlier than normal. Most retailers usually don't begin the ''Holiday Season'' sales until Black Friday, the day after Thanksgiving. This year many of the large retailers have already began their sales in order to increase potential revenues. They are hoping to get some early purchases before the economy has any more ''downturns''.
Secondly, many retailers are giving additional discounts to consumers due to the fierce competition during these troubled economic times. It is often the most aggressive retailer that gets the consumer so many retailers are going with a high discount in order to lure consumers to their location. This means you get more for far less money.
This is only good for shoppers that get their shopping done EARLY. The reason for that is many retailers are scared of getting stuck with additional inventory after the holiday push. Thus, they are ordering smaller quantities of products than they have in the past. In anticipating fewer shoppers and less money to be spent they are ordering smaller quantities so they aren't left with so many items after the holiday season.
So, in order to take advantage of the economic times you should get out there early and often or for the internet savvy, do all your holiday shopping online. I have a personal tradition of doing all my shopping on Christmas Eve. There is some sick pleasure I get from the stress, hustle and bustle. This year I am breaking that tradition in order to take advantage of the wide array of sales and opportunities out there. I suggest you should too!
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