Holiday Price Wars Erupt Even Earlier

Retailers compete to draw shoppers as economy sags
By Jim O'Neill,  Newser User
Posted Nov 5, 2007 9:57 PM CST
Shoppers pass buy a sign touting discounts at a store in an outlet mall in Castle Rock, Colo., on Thursday, Sept. 13, 2007.(AP Photo/David Zalubowski)   (Associated Press)
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(Newser) – No need to wait until the day after Thanksgiving: your Black Friday deal may already be out there waiting. Retailers are launching their assault on shoppers’ wallets even earlier this year, reports CNN Money. “This is probably the earliest that we're seeing the price wars," said consultant George Whalin. Ignited by Wal-Mart price-cutting, retailers from Sears to Penny's to Saks are offering sales of up to 60%.

Retailers anticipate holiday sales growing 4%, compared to 4.6% last year, as housing and credit market woes make shoppers cautious. But early discounting won’t kill Black Friday, analysts say. “Shoppers have been trained to believe that stores always save the best deals for later in the season,” says retail expert Stevan Buxbaum. “It's a difficult mindset to break.”