Shopping

The Cincinnati Enquirer is reporting what you probably already know: shopper’s are winning this season’s budget battle. As Stepfanie Romine reports,
“Many analysts and retailers are already expecting a lackluster December as cost-conscious consumers hold out for deeper discounts closer to Christmas, especially with the holiday falling on a Tuesday. According to the National Retail Federation, the industry’s largest trade group, consumers had completed only 36.4 percent of shopping by the end of November.”
This means consumers are in control, and waiting for last minute deals and helpful services like extended hours are the rewards of their demands.
“Macy’s is taking no chances on losing procrastinating shoppers in New York City. The Cincinnati-based department store behemoth said that beginning at 7 a.m. Dec. 21, seven of its stores in the New York metropolitan area, including its flagship store in Manhattan, won’t close until 6 p.m., even on Christmas Eve.
JC Penney Co., including the stores in the local area, also plans to expand its hours in the final days before Christmas. Beginning Friday, most JC Penney stores started staying open until midnight. That will continue through Dec. 23, , said Barbara Keeling, general manager of the JC Penney store at Florence Mall. On Christmas Eve, JC Penney will close at 6 p.m.
Marshal Cohen, a retail analyst with The NPD Group market research firm, said it’s a buyers’ market heading into the holiday home stretch – stores will need markdowns and specials.
“(Consumers) can get anything, anywhere, at any price,” Cohen said. “I’ve got choices of price and brand. We’re just clearly seeing a whole new dynamic: The consumer is really in the driver’s seat.”
For the full scoop read below– Amy Ko, Senior Editor
 

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