With the economy in the shitter, there is a lot of talk about how retail stores are almost being forced to drop their prices in order to bring in more revenue. The other day there was an article in the New York Times that started with a great little sentence which put this phenomenon into a concise statement:
For weeks, reluctant consumers have forced retailers to lower their prices — and lower them again and again — before they even considered opening tight wallets and purses.
Consumers have every right to be cautious with their dollars! You can read the rest of the article (which is pretty good) at your leisure, but I loved that first sentence so much that I wanted to create an entry around it.
I’ve also been looking around in the post-Christmas shopping scene looking for some good deals. As I suggested in a previous post, the post-Christmas sales are the best time to store up on stuff for next year’s holiday. I spent $25 on a new Christmas tree at Target and about $25 at Wal-Mart on Christmas cards, bags, candles, blankets, and some other stuff for next December. All of this stuff was half-price so it was a pretty good deal.
But I haven’t found any major, big ticket items that I’ve wanted to purchase. So I wonder if anyone out there has seen anything like that in their travels. Have any of you seen a big “Black Friday” type deal in any of the post-Christmas sales? Better yet, did you buy whatever item caught your eye? I think that many people will be looking for these deals, finding them, and then opting not to spend their money on the big ticket item anyway.
Times are tough and, as if they didn’t already know it, retailers are in for a rocky 2009.