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Stores desperately seeking shoppers on Super Saturday



21 December 2007 @ 01:42 pm ET

U.S. shoppers, come out, come out, wherever you are. "Super Saturday," the last Saturday before Christmas, is often the biggest shopping day of the holiday season, according to the National Retail Federation.

This year, the day may be busier than ever as procrastinating shoppers seek deeper discounts closer to Christmas.

According to a survey last week for Discover Financial Services, 42 percent of those questioned said they had either not started their holiday shopping, or had completed some -- but not much -- gift buying.

Getting shoppers into stores for the final days of the season is crucial for retailers. According to ShopperTrak, December 21-24 last year accounted for 13.6 percent of holiday sales.

"Fasten your seat belt because it's going to be busy, it's going to be deep discounts, and it's going to be mayhem," said Marshal Cohen, chief industry analyst at research firm NPD Group.

HOW SUPER?

Retailers have been on edge, worried that shoppers will pare budgets in the face of soaring gas prices, a slumping housing market and a credit crunch.

Retailers have cut inventories and started advertising holiday discounts earlier than ever -- running online-only sales on Thanksgiving day.

The emphasis on deep discounts have worked -- consumers came out in droves for the Thanksgiving weekend, drawn by eye-popping, limited-time deals on "Black Friday."

But as the deals faded, so too did budget-conscious shoppers, betting that prices would drop later in the season.

Copyright 2009 Thomson Reuters. All rights reserved.

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