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Desperate times, desperate measures?
Earlier this year, Kristy Reynolds, marketing professor at the University of Alabama's Culverhouse College of Commerce, indicated that methodical shopping, or "surgical shopping," will be key in 2011. She said "shoppers are likely to continue being careful and methodical with their shopping, even though they have loosened the purse strings somewhat... Many shoppers are going to be more likely to buy what they need at the moment, as compared to stocking up ahead of time."
Motivating surgical shoppers to spend – and hopefully spend more than planned – is of top concern for retailers as the holiday shopping season starts to get underway. As a result, retailers are turning to desperate measures in these desperate times.
Anne D'Innocenzio, AP Retail Writer, is reporting that the online jeweler Stauer is offering an unbelievable deal – a $249 amethyst necklace for free, provided customers pay the $24.95 it costs to ship it. Stauer will lose money on the deal, but it hopes to reel in new customers who will buy other jewelry. "In this economy, you have to be outrageous in your offers," said Michael Bisceglia, the president of Stauer. Nordstrom is also rolling out an unbelievable offer, making it easier for shoppers to buy on impulse with its free shipping and free returns every day.
It seems that the retailers' stakes and customer expectations will only continue to rise during the critical holiday shopping season.
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