Looks like this is shaping up to be a very budget friendly holiday season. According to a recent AP article, retailers have started to slashed prices at local malls and stores to reel in snowbound shoppers in the Midwest and Northeast. The jury is still out on whether it’s working, but increased markdowns and a plethora of coupons give the impression that retailers are doing all they can to get us into the doors. I was going to list the stores with markdowns, but it’s pretty much every major (and minor) retailer. Lord & Taylor has coupon books available in store with coupons for up to an extra 20% off most items and Marshall Fields have all winter boots (including Uggs) for 30% to 50% with an extra 20% off for clearance shoes.
On another note, it appears to that luxury goods like electronics are doing very well this holiday season. This is a trend I’ve noticed that for past 3 or 4 holiday seasons. I think the increase in the purchase of luxury products is the result of the success of gadgets like the iPod and X-Box 360 and the fact that most of us wait until this time of year to splurge on something special for loved ones (and ourselves).