With the holiday shopping season on track to be a disaster, some retailers are pulling out decorations early, hoping to trick people into buying presents ahead of the holidy shopping season, when our “mental” recession might be even worse.
WSJ: As economists predict the worst holiday sales season since the recession of 1991, retailers are fighting back with an arsenal of new selling strategies, staff cutbacks and more emphasis than ever on low prices.
Retailers are planning bigger, bolder and earlier ad campaigns to lure shoppers as early as possible, racing to make the most of the shorter holiday season this year-five fewer days between Thanksgiving and Christmas than in 2007. Some chains, including Macy’s Inc. and Costco Wholesale Inc. already have put out holiday merchandise.
Stores are expected to hire fewer part-time staffers during the holidays, to control labour costs. Gift cards will be fancier, and companies, such as Target Corp. say they’ll be emphasising affordability with a range of gifts under $25.
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