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Discounts drive shoppers to stores this weekend

By Staff | Dec 14, 2008

MILWAUKEE (AP) – Steep discounts on clothes, toys and electronics enticed shoppers to stores this weekend but they still are making fewer purchases leading into the final stretch of the holiday shopping season.

Based on early reports from analysts and malls, sales results were generally mixed to moderately down this past weekend, the second-to-last of the season that can make or break many retailers.

Stores offered big discounts to shoppers who have been pulling back their spending, concerned about the recession and job stability. Shoppers came to stores for these discounts but largely stuck to their shopping lists and basic items like clothing, analysts say.

Traffic levels at stores were comparable to last year, said Marshal Cohen, chief industry analyst at market research group NPD Group. People were looking for deals but not as willing to spend their money as last year.

“The number of consumers actually making purchases were down and when they did purchase they purchased less,” Cohen said.

Results were mixed across the country, with electronics still doing well and stores like warehouse-club operator Costco Wholesale Corp. were mobbed, he said.

This Saturday was the strongest yet this season, said Karen MacDonald, a spokeswoman at mall operator Taubman Centers Inc. Traffic was up at stores throughout the country, but in terms of sales, business overall ranged from slightly above, to flat, to slightly below last year’s levels, she said. Apparel was a top seller while high-end jewelry and home furnishings were weak.