I predict that this year is going to be a mad craze when it comes to holiday sales, and there will be amazing bargains available. I'm basing this prediction on the gloomy outlook for the economy at large, the specifically tough time that has been had for retailers lately, and a general concern about deflation - when commodity prices spiral downward.
An example of deflation is what we've seen with gas prices lately. The prices of gas I've seen have dropped from almost four dollars to less than two dollars in just a few months. Can you imagine how you might feel if the prices of the goods and services you want to buy also dropped about fifty percent in just as much time? What about if the amount of money you were able to charge for your goods and services dropped by that much in such a short time?Black Friday
I'm not thinking that we'll see that type of precipitous drop in consumer goods prices, but some items will be super cheap. There are always some hot products which retailers are willing to deeply discount in hopes of driving customers to the stores, so that, with the right merchandising and in-store promotion, they'll buy more high margin products while inside. Of course, the big day for these types of sales is "Black Friday" - the day after Thanksgiving where many retailers finally reach a profitable state for the year. They open early, close late, and offer unbelievable prices. For the most part, it works quite well, but as we've seen in recent years, people are increasingly shopping online for their gifts.Cyber Monday
What about the following week after Thanksgiving, when everyone goes back to work? Maybe they'll get back to work on Tuesday, as Monday is a good day for shopping online. With plenty of time to purchase and ship gifts, "Cyber Monday" brings in a lot of orders for the online retailers. I expect to see Amazon, Newegg, and Buy.com reporting some terrific sales reports this year. Will there be lots of profits? Not necessarily, online retailing has tough competition and price comparisons are easier than ever. Online retailers will have to rely on their brand goodwill, customer service, and reliable shipping to woo customers this year more than before. Some shoppers will gladly spend an extra thirty minutes finding another source with the same gift for $5 less. Its not so much about convenience this year, more about price. My plan is to find and share good gift ideas online.
So here's to a good holiday season - safe travels everyone!
An example of deflation is what we've seen with gas prices lately. The prices of gas I've seen have dropped from almost four dollars to less than two dollars in just a few months. Can you imagine how you might feel if the prices of the goods and services you want to buy also dropped about fifty percent in just as much time? What about if the amount of money you were able to charge for your goods and services dropped by that much in such a short time?Black Friday
I'm not thinking that we'll see that type of precipitous drop in consumer goods prices, but some items will be super cheap. There are always some hot products which retailers are willing to deeply discount in hopes of driving customers to the stores, so that, with the right merchandising and in-store promotion, they'll buy more high margin products while inside. Of course, the big day for these types of sales is "Black Friday" - the day after Thanksgiving where many retailers finally reach a profitable state for the year. They open early, close late, and offer unbelievable prices. For the most part, it works quite well, but as we've seen in recent years, people are increasingly shopping online for their gifts.Cyber Monday
What about the following week after Thanksgiving, when everyone goes back to work? Maybe they'll get back to work on Tuesday, as Monday is a good day for shopping online. With plenty of time to purchase and ship gifts, "Cyber Monday" brings in a lot of orders for the online retailers. I expect to see Amazon, Newegg, and Buy.com reporting some terrific sales reports this year. Will there be lots of profits? Not necessarily, online retailing has tough competition and price comparisons are easier than ever. Online retailers will have to rely on their brand goodwill, customer service, and reliable shipping to woo customers this year more than before. Some shoppers will gladly spend an extra thirty minutes finding another source with the same gift for $5 less. Its not so much about convenience this year, more about price. My plan is to find and share good gift ideas online.
So here's to a good holiday season - safe travels everyone!
You're not kidding. The holidays are a mad craze. Did you hear what happened at a Walmart in Arkansas?