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Last-minute shoppers hit stores in droves
Published December 24, 2008 at 12:05 a.m.
After keeping retailers in nerve- racking suspense for much of December, throngs of holiday shoppers finally began to jam parking lots and store aisles in the past few days.
But many of the last-minute shoppers are still being choosy, picking among deep discounts as retailers seek to salvage what may be the worst holiday season in 40 years.
"I just started my shopping yesterday, and I haven't paid full price for a single thing. It's like everything is at least 60 percent off," said Craig Durant, who was shopping Tuesday at FlatIron Crossing in Broomfield.
Aspen Grove is typical of what many malls across the country have reported: a strong Black Friday followed by a lull of a few weeks as consumers played a game of chicken with retailers in hopes that prices would fall further.
"Shoppers have been waiting for store incentives to come back out, and we're definitely seeing an uptick in recent days," said Kimberly Calder, marketing coordinator at the Littleton outdoor shopping center.
Local malls reported strong crowds during the weekend and on Monday in spite of the unseasonably cold temperatures.
"No matter what, the 20th to the 24th are always very intense," said Pam Schenck, general manager at Park Meadows. She said the mall had traffic police in the parking lots on Monday to help ease gridlock. "People suddenly realize that they need to be ready on Christmas Eve."
Some shoppers are taking advantage of the steep sales to buy a few gifts for themselves, particularly apparel, said Nick LeMasters, general manager at Cherry Creek Shopping Center.
"There are values that customers have never seen before in the marketplace, and they don't want pass them up," he said.
Among the deals: Banana Republic advertised clothing for as much as 60 percent off, a $2,100 Marc Jacobs dress was listed at $629.95 on Saks' Web site and Toys R Us cut the price of the popular Elmo Live doll by $10 to $49.99.
Even pricier items began to move in recent weeks at the Sundance store in Park Meadows as shoppers snapped up jewelry and furniture, said store manager Sonny McGlothlin.
"We've had an exceptional holiday - it's just as good as last year, despite all of the news about the economy," he said. "We've been on track all of December, but on Monday sales really skyrocketed."
Nationwide, most retailers are reporting a far grimmer holiday. Same-store sales in November and December may drop as much as 2 percent, the International Council of Shopping Centers said Tuesday, boosting the projection from a 1 percent decline. Either way, it would be the worst Christmas sales season in at least four decades.
Last weekend had the lowest U.S. shopper turnout in at least six years, according to a survey by America's Research Group. Thirty-nine percent of consumers shopped, the Charleston, S.C.- based organization said Tuesday, citing a telephone survey of 1,000 consumers conducted Saturday and Sunday.
Star performer
90 percent or more of their Christmas shoppers returned this season:
Wal-Mart: 91.2 percent
Retailers in trouble
69 percent or fewer of their Christmas shoppers returned:
CVS: 69.8 percent
Costco: 68.1 percent
American Eagle: 67.3 percent
Lowe's: 66.7 percent
Macy's: 65.4 percent
Sam's Club: 65.1 percent
Belk: 64.2 percent
Walgreens: 61.0 percent
Dillard: 55.4 percent
Sports Authority: 51.8 percent
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