The Ottumwa Courier

AP National

November 25, 2013

Americans not willing to spend without deals

NEW YORK (AP) — This holiday season, Americans may not spend their green unless they see more red.

Despite signs that the economy is improving, big store chains like Wal-Mart and Kohl's don't expect Americans to have much holiday shopping cheer unless they see bold, red signs that offer huge discounts. As a result, shoppers are seeing big sales events earlier and more often than in previous holiday seasons.

Retailers are trying to lure shoppers like Marissa Anwar, who has been doing more bargain hunting compared with last year.

The operations consultant, who lives in Toronto and New York City, said the economy "hasn't been great" and she's lost clients. As a result, she cut her shopping budget to $2,800 from last year's $4,000.

"I was a former 'spend-aholic,'''said Anwar, 29. "Now, I want to make sure I have the money before I spend it."

It's a problem that retailers know all too well. Since the recession began in late 2007, stores have had to offer financially-strapped Americans ever bigger price cuts just to get them into stores. But those discounts eat away at profits.

So far, Wal-Mart, Target and Kohl's are among more than two dozen major chains that lowered their profit outlooks for either the quarter or the year. A big reason is the expectation that they'll have to offer huge discounts in order to get shoppers to spend.

There are already signs that retailers are aggressively discounting. Wal-Mart, for instance, on Friday started matching or beating the prices that certain competitors like Best Buy are advertising for some toys and electronics for the day after Thanksgiving — known as Black Friday. Best Buy also plans to match rivals' prices, even after customers have purchased items. And Target, better known for its whimsical advertising, is touting its prices in holiday TV ads for the first time in at least a decade.

Text Only
AP National
  • Obama voices skepticism on Russia in Ukraine WASHINGTON (AP) — President Barack Obama conveyed skepticism Thursday about Russian promises to de-escalate a volatile situation in Ukraine, and said the United State and its allies are ready to impose fresh sanctions if Moscow doesn't make good on i

    April 18, 2014

  • Late sign-ups improve outlook for Obama health law WASHINGTON (AP) — A surge of eleventh-hour enrollments has improved the outlook for President Barack Obama's health care law, with more people signing up overall and a much-needed spark of interest among young adults. Nonetheless, Obama's announcemen

    April 18, 2014

  • Cyber cops: Target hackers may take years to find WASHINGTON (AP) — Secret Service investigators say they are close to gaining a full understanding of the methods hackers used to breach Target's computer systems last December. But the agency says it could take years to identify the criminals who sto

    April 18, 2014

  • 10 Things to Know for Today Your daily look at late-breaking news, upcoming events and the stories that will be talked about today: 1. UKRAINIAN MILITIA DENIES CALLS TO FREE BUILDINGS Pro-Russian insurgents in the east who have been occupying government buildings say they will

    April 18, 2014

  • White House updating online privacy policy WASHINGTON (AP) — A new Obama administration privacy policy released Friday explains how the government will gather the user data of online visitors to WhiteHouse.gov, mobile apps and social media sites, and it clarifies that online comments, whether

    April 18, 2014

  • A year after background check defeat, modest goals WASHINGTON (AP) — Democratic worries about this November's elections, a lack of Senate votes and House opposition are forcing congressional gun-control supporters to significantly winnow their 2014 agenda, a year after lawmakers scuttled President Ba

    April 16, 2014

  • Court to weigh challenge to ban on campaign lies WASHINGTON (AP) — Negative campaigning and mudslinging may be a fact of life in American politics, but can false accusations made in the heat of an election be punished as a crime? That debate makes its way to the Supreme Court next week as the justi

    April 16, 2014

  • College Board provides a glimpse of new SAT WASHINGTON (AP) — Anxious students — not to mention their parents — can get a heads-up for how the redesigned SAT might look in two years. Sample questions for the new version of the college-entrance test were released on Wednesday by the College Boa

    April 16, 2014

  • End of NYPD Muslim surveillance program applauded NEW YORK (AP) — Muslim groups and civil liberties advocates applauded the decision by New York Police Department officials to disband a controversial unit that tracked the daily lives of Muslims as part of efforts to detect terrorism threats, but the

    April 16, 2014

  • 10 Things to Know for Today Your daily look at late-breaking news, upcoming events and the stories that will be talked about today: 1. NEARLY 300 PEOPLE ARE MISSING AFTER KOREAN BOAT SINKS The accident involving a ferry that was headed to a tourist island killed three passenger

    April 16, 2014

Obituaries
Record
Facebook
AP National