Oct 2, 2009 7:43 pm US/Eastern
Christmas In October: To Shop, Or Not To Shop
Tight Budgets Leave Shoppers Wondering Whether To Kick Off Christmas Gift Hunt Early
NEW YORK (CBS) ―
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With money tight again this year, the question many are asking is whether they should start their Christmas shopping now, or should they wait for the big holiday sales.
Hiroko Masuike/Getty Images
October has just begun, but stores have already started with their Christmas sales.
With money tight again this year, the question many are asking is whether they should start their Christmas shopping now, or should they wait for the big holiday sales.
Genova and Lorna Arroyo have their list, and they're checking it twice.
"Right now, we're looking for the trees and some gifts for my twin girls," Genova Arroyo said.
The Arroyos say with an even tighter budget than last year, they're getting an earlier start to make sure there will be plenty of gifts under the tree.
So when did Christmas start at K-Mart?
"First week of September," Charlie Moore, manager of K-Mart in Midtown, said. "The day we put it out is the day we started selling it."
After the worst holiday season in 41 years, that "buy early" strategy is one sellers are hoping shoppers will keep embracing.
"Now that I have kids I understand the strategy of shopping early, because by the time December comes, all the great toys that the kids want are gone," Rye Brook resident Jocelyn Govinderaraj said.
Yet that's leading to some retail overload: buy costumes and Halloween decorations, or head straight into Christmas?
"Trying to make enough money to save up for all the presents, to have that glaring in your face, it's a little daunting," Tarrytown resident Jennifer Spitalnic said.
It may be Christmas on one side of the aisle and Halloween on the other side, but that doesn't mean you need to spend twice as much. Retail analysts say you need to pace yourself.
"If you need a size of something, it's starting to go, so you may want to buy that a little sooner and not just wait until the last minute this year," retail analyst Joe Feldman said.
Joe Feldman says that, after a 4.5 percent drop in profits last year, you can expect to see sales at "Black Friday" and beyond.
"'Black Friday' is the way to go just to get a good bargain on any type of high-profile item," Mohammed Salam, assistant manager at Target in White Plains, said.
"We won't see 90% off this season," Feldman said. "People will be able to get 'buy one, get one' offers, and extra discounts if you buy multiples. I think we're going to see a lot of that promoting this season to drive the traffic."
Experts say to beware of one big shopping pitfall: industry analysts say stores will keep less inventory around, and that will ultimately drive prices up, something savvy shoppers already know.
"The earlier you shop, it seems to be cheaper," shopper Natalie Reyes said. "The closer it gets to the holiday, it seems more expensive."
And expensive can put the "bah, humbug" into any holiday.
(© MMIX, CBS Broadcasting Inc. All Rights Reserved.)
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