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Slow 2012 Christmas Sales Lead Retailers To Offer Further Reductions

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Slow Christmas sales spark more markdowns

According to a new report from MasterCard Advisors SpendingPulse report, holiday sales for the 2012 shopping seasons were the lowest they have been since 2008.   Surprisingly, retail sales were up only .07% since 2011.   I think several thinks account for this small increase.   Take into account the natural disasters like Hurricane Sandy that occurred in the months leading up to Christmas as well as the headlines about the impending fiscal cliff disaster.    But there’s more to the minimal spending increase than news headlines and natural disasters.   Lean times have lead consumers to become more selective with there spending.  Why spend before, when you can get better deals a day or two after the holiday?   I think that is the thinking of frugal shoppers in this economy.  Witness the sale on the Target Neiman Marcus holiday collection.  Consumers are no longer buying into the hype of discount designer goods for a “limited time.” There’s literally a new budget designer collection every six weeks , so there’s no need to run out and buy the the latest budget collection on the first day of its launch at the highest retail price.  Consumers now know , the longer they wait, the better the deals will be.  Consumers are also taking items back to the store for “price adjustments” today.  This is a great way to save when the merchandise you purchased, went on sale after you purchase.

In the UK, savvy shoppers waited until “Boxing Day” or Dec. 26th to do much of their holiday shopping.  Today saw unprecedented online sales at Selfridges (with Selfridges.com crashing) and John Lewis (sales are expected to increase 40% in the next three days.)

If you’re up for some after Christmas sales today or this weekend, here’s what’s on The Recessionista’s Radar for good value.

  • Target-  Still smarting from the lower than expected sale on their heavily advertised collection with Neiman Marcus, Target is pulling out all the stops to get shoppers into their store or online. Target is giving away a $10 gift card with purchases of $75 or more. The promo code for the $10 gift card is XMASGIFT.
  • Macy’s –  The retailer is rolling out a week of wonderful, with further reductions on apparel and everything in the store. 75% off designer clothing from Alfani, Nine West, Charter Club, Rafaella, JM Collection, Alfred Dunner, AGB, and Style & Co. Look for the passport savings in today’s paper and online.
  • White House Black Market: 50% off winter fashions
  • DKNY.com: Special  sale on holiday dresses.
  • Kohl’s- savings throughout the store and online .Extra 20% off when you spend $100 or more w/code CHEER20FB. Extra 15% off w/code CHEER1.
  • California Outlet Stores: Chelsea & Camarillo Premium Outlet Center, Ontario Mills Outlets and Outlets at Orange sales Dec. 26-Jan 3.
  • Saks Fifth Avenue and Neiman Marcus discounts on select designer wear.
  • Check Loehmann’s after holiday savings online and in-store.
  • Nordstrom: Half Yearly sale for men and savings throughout the store.
  • Reiss End of Season Sale: Save up to 50% off with Free Shipping on orders over $300.
  • Starbucks: Starbucks End-of-Year Sale: Up to 50% off holiday merchandise
  • H&M  savings in store & via their e-commerce site (outside the US for H&M website).
  • Marks and Spencers  savings throughout the store and the website. (Marks and Sparks with shipping to 80 countries)
  • eBates: shop through their online portal as get extra savings at major retailers including Land’s End and Target. Sign up for eBates and save.
  • eBay: Deals on L.A.M.B and other designers.
  • In Canada, check the Boxing Day Deals site. Many major retailers have specials to tempt you. In Canada these stores have deals: Best Buy Canada, Canada’s ToysRUs, Sears.ca, and more.

US Shopping Club deals online (sponsored deals)

Will you be braving the stores today readers, or are you all shopped out?

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Since 2008, Mary Hall has been the author of The Recessionista Blog, which is read by thousands of regular readers in over 160 countries. An internationally recognized expert on the art of the living the good life for less, she has been a commentator on local, national, and international radio and TV shows. Her advice has been featured in over 2,000 media outlets, including The New York Times, Reuters, Life & Style magazine, ABC News, NBC News and now The Huffington Post, among many others.

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