Shoppers were shown to have turned out more for discounts, but fewer purchases were still made.
Wired PR News.com – The weekend saw a higher number of shoppers turn out for discounts than expected; however, the sales did not persuade them to buy more. As reported by the Associated Press (AP), the discounts for one of the last pre-holiday shopping weekends were high enough to bring in a strong base of store traffic, but the increase did not equate to more sales.
According to information from the NPD Group, which conducts market research, shoppers have tightened their wallets more this year than last, and are more reluctant to make purchases, even those who go out seeking deals. As noted in the AP report the frugal spending habits will likely continue throughout the holiday season. One shopper, John Collins of Brooklyn, was quoted as stating, “It’s not the time to spend money on lavish presents… It’s time to get back to smaller, thoughtful presents, especially with an uncertain year coming up. No one I know wants to spend a fortune right now.”