Retail stores slashing prices before the holidays

Posted at: 12/21/2012 5:03 PM
Updated at: 12/21/2012 6:39 PM
By: Stuart Dyson, KOB Eyewitness News 4

New Mexico shoppers who put off holiday shooping to the final weekend before Christmas are finding big bargains at a lot of the stores.

A lot of the franchise stores haven't offered the kind of screaming blockbuster deals seen last year, but shoppers say the deals seems to be happening as the weekend nears.

In fact, national retail analysts say stores are suddenly offering deep discounts to try to turn around sluggish sales and entice more shoppers to show up and spend. That's why the early birds didn't get all the best worms this year.

"I'm behind schedule this year," said Renae Donovan, shopping at Coronado Mall. "Usually I'm done by now, so I'm just starting. There's a lot of good deals."

"There is still a lot of time left but it depends on how much madness you want to endure," said shopper Lee Hopkins. "It's three times as busy today than it was a week ago."

"I did not wait till the last minute," said shopper Sheila Bragg. "I'm 90 percent done and I found a lot of good deals, but I found the biggest bargains at Dillard's."

Shopper-Trak, which monitors 40,000 retail stores across the country, states customer numbers and sales were both down last week compared to the same week last year - by more than 4 percent.

The bargains are good for shoppers, but not necessarily for stores. Profits tend to sufffer when you start slashing prices.