Discounts Keep Getting Bigger This Holiday Season As Shoppers Hold Out For Deals
Last year retailers suffered from a glut of merchandise that forced them to offer big deals, and this year, despite trying to create scarcity, discounts are even bigger.
The number of purchases that included promotions jumped 79% in November from a year before, according to DynamicAction’s analysis of $4B in online transactions, the Wall Street Journal reports. During the first week of December that number was double last year’s levels.
This phenomenon hurt retailers sales last year, including Macy's, Sear and Kohls, all of which planned to trim inventory this year. But it seems no matter how well retailers understand and position their inventory, American consumers are refusing to buy items at full price. [WSJ]