The Elves of the Observer have noticed in the Christmas retail trade, the following: Shoppers are reviewing their lists, looking for deals....and waiting, waiting, waiting.
Secondly, shoppers are paying from debit rather than credit cards, or...are paying with cash.
Thirdly----- if there is no deal....there is no deal.......
Finally......shoppers appear to be buying for themselves, not others. That is a little striking I suppose. In the catalog business, it would be shipping to another address, or buying gift cards etc, . It may be that shoppers just have not gotten in the mood yet, or are waiting for the end to get the best deal. The latter is my hunch.
The waiting for the last moment is a bad prospect for retailers who hope to survive this year Christmas. Many have off loaded merchandise to liquidators rather than fill their back rooms that are already stuffed to the gills. Some retailers have already notified their employees of the end of their employment at the end of the Christmas season.
This is a huge game of "chicken"----how low will retailers take the price? and when. Are they already beyond survival? We will know shortly. Stay tuned.
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