Yesterday morning, Save Jerseyans, I awoke to dismal online deals and discounts at my favorite online retailer websites. Primarily, I was hoping to find a deal on the Chloe handbag I’ve been coveting (not a justifiable full-priced purchase for a fiscally conservative blogger).
Unfortunately, neither Neiman Marcus nor Saks fulfilled my day-after-Christmas wish.
Stocks typically rise from Christmas Eve into the new year (the aforementioned “Santa rally”). But bah humbug to that this year!
Considering the fact that holiday sales numbers fell short of expectations, perhaps upscale retailers may have been able to improve upon their year-end performance by satisfying the desires of accessory junkies such as myself…
According to the Wall Street Journal, shares of Saks, among others, are down. And with the December 31 deadline fast approaching, it is unlikely that sales performance is going to improve any time in the near term. So, why not take advantage of this fact to rake in as much as possible before consumers shut down completely??
Make consumers feel like they are getting a deal….call the promo code NOFISCALCLIFF!
But then, if high-end retailers start slashing prices on their luxe merchandise, the perception that the items are the elitist of the elite changes, and then they are no longer the premier accessories to have and to hold. So, what to do…..?
It is a tricky line to walk, but executives need to think about the next few quarters and what the impending fiscal cliff will mean to their projected revenue. If sales numbers are down now, what is going to happen on January 1 and thereafter? And quite honestly, I don’t think that retailers can bank on success of the Starbucks “Come Together” cup campaign to prevent the impending doom that is going to wreak havoc on their stock prices in coming months.
On the (very limited) plus side, maybe that handbag will be within reach in time for my birthday.