I think retailers will hold prices up to 40 percent off before Christmas and then go even deeper in January to clear inventory. No doubt, heavy discounts help sales but they hurt profits. And retailers, more than ever, know that they have to answer to Wall Street and not Main Street.
More Quotes from Britt Beemer:
There's no doubt in my mind that the day that the CEO from Bridgestone/Firestone was put on the air to apologize for this, it would be the very last day that that person would be working there, ... For a Japanese executive to go that far and assume the responsibility really is tantamount to saying, 'I've caused all these problems with my bad management style,' and that's why I think you'll see somebody go into Bridgestone and I'll bet he'll make huge changes.Britt Beemer
Our research on holiday gift returns shows that it's only three percent of Americans who are real jerks and they indulge in consumer fraud and return abuse. The rest of us have to deal with the consequences.
Britt Beemer
Oldsmobile demand and sales did not collapse overnight. GM sat back and watched it happen, ... Your father's car ultimately became a hearse. You've got to have product categories that are growing categories. The four-door sedan is not the growing category
Britt Beemer
What's happens is retailers become known for certain things. You want to be known for some product category. You want to be known for a return policy.
Britt Beemer
There are a number of consumers I've talked to who have given money to hurricane funds in lieu of gifts. Last year luxury retail was the grand slam .... If this shopper cuts back, it will send Wall Street into a spin.
Britt Beemer
I'm just amazed at how few people shopped, ... The lack of big discounts hurt retailers.
Britt Beemer
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