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US stores lure hard-up shoppers US stores lure hard-up shoppers
(31 minutes later)
US stores have opened early and offered steep discounts to encourage consumers to part with their cash as the Christmas shopping season kicks off.US stores have opened early and offered steep discounts to encourage consumers to part with their cash as the Christmas shopping season kicks off.
Crowds of shoppers turned up at dawn to snare the best deals.
A worker died and at least three people were injured after being trampled by a crowd of shoppers at a Wal-Mart in the New York suburbs.
The day after the Thanksgiving holiday is viewed as an important test of how willing consumers are to spend.The day after the Thanksgiving holiday is viewed as an important test of how willing consumers are to spend.
Many retailers have suffered as the US economy nosedives although value chains such as Wal-Mart have fared better. Police said a throng of shoppers broke down the doors to the Wal-Mart store in Valley Stream, Long Island shortly after 5am, knocking the 34-year-old worker to the ground.
US retail sales recorded the biggest monthly decline since 1992 in October as consumers cut back on spending. Electronics retailer Best Buy and department stores Kohl's and Macy's also opened their doors at dawn.
Electronics retailer Best Buy, department stores Kohl's and Macy's and Wal-Mart, the world's largest retailer, all opened their doors at dawn.
Toys R Us offered up to 60% discounts from 5am to 10am.Toys R Us offered up to 60% discounts from 5am to 10am.
Bargain hunters
Some shoppers queued up to bag the best bargains.Some shoppers queued up to bag the best bargains.
"The recession is kicking in," Tammy Williams, 36, told the Reuters news agency as she waited for a Kohl's store in New Jersey to open at 4am."The recession is kicking in," Tammy Williams, 36, told the Reuters news agency as she waited for a Kohl's store in New Jersey to open at 4am.
"I'm just looking for a bargain, anything to save a couple of dollars. I'll save the rest for food shopping.""I'm just looking for a bargain, anything to save a couple of dollars. I'll save the rest for food shopping."
Analysts said that retailers will closely monitor store traffic and the amount of time spent in stores.Analysts said that retailers will closely monitor store traffic and the amount of time spent in stores.
However, deep discounts are likely to hurt profits even if shoppers turn out in droves.However, deep discounts are likely to hurt profits even if shoppers turn out in droves.
Many retailers have suffered as the US economy nosedives although value chains like Wal-Mart have fared better.
US retail sales recorded the biggest monthly decline since 1992 in October as consumers cut back on spending.