U.S. shoppers spent 6.1 percent more on electronics during the first half of November than they did a year ago, suggesting that a hot videgogame release and earlier-than-usual promotions on TV sets are spurring a big holiday season for consumer electronics, according to a story in the Wall Street Journal. A second WSJ story notes that retailers have limited their steepest discounts to a few TV sets, in promotional activity that is less frantic than a year ago.
MasterCard SpendingPulse data for the first half of November show that consumers spent 6.1 percent more on electronics than they did during the same period a year ago, according to a story in the Wall Street Journal.
Written by Vanessa O’Connell and Miguel Bustill, the story says a strong video game release and early promotions on TV sets have kicked off solid holiday season sales for consumer electronics.
Sales of apparel, particularly women’s styles, could fare far less well, the story says, noting that overall, households are expected to spend about 7 percent less on gifts this season.
WSJ Online subscribers may read the full story here.
In a related story, the WSJ reports that while retailers are trumpeting great deals on TV sets, they have saved their steepest discounts for a few sets, as promotional activity is less frantic than a year ago.
This story, titled, “TV Price Drops Help Retailers Tout Deals,” notes that retailers have reduced inventories to match demand and worked with manufacturers to develop targeted flat-panel set offers that won’t result in losses.
Written by Mary Ellen Lloyd, this story says that the pinpoint discounts should avoid the damage to profit margins that panicked price cuts caused last year, as long as shoppers are in a buying mood for the Thanksgiving weekend.
WSJ Online subscribers may read this full story here.