As the most important shopping weekend of the year approaches this Friday, Saturday and Sunday, retail stores in Raleigh and around the country will be looking for different ways to pull shoppers in despite recent economic problems.
Chuck Milsaps, minister of culture for Great Outdoor Provision Company,said the goal this weekend will be to make sure customers have the best shopping experience possible.
“Traffic and foot traffic is not what it was last holiday season,” he said. “That requires us to really focus on what we should be doing anyway by making sure every customer’s experience is positive and meaningful to them.”
Great Outdoor Provision Company, an outdoor activities retailer with nine locations in North Carolina, relies more on weather conditions throughout the shopping season than economic trends, Milsaps said.
“If the weather is cooperative, we’re very fortunate,” he said. “It’s like the sixth man in the crowd. The weather has a great influence on what people need to stay warm and comfortable.”
Douglas Pearce, economics professor and department head, said he believes this holiday shopping season and sales on Black Friday will most likely be down compared with other years.
“It will be hard for me to believe this year will be a good year,” Pearce said. “All the signals, the stock market, housing prices and uncertainty about people’s jobs contribute to that feeling. I’m not pessimistic in the long run, but in the short term I am.”
Pearce said he doesn’t think there is much that can happen to improve the outlook for the holiday season.
“The stock market needs to rebound a good bit so people feel more confident,” he said. “There has to be a sense that we have seen the worst of [the economic problems] and people don’t feel that.”
One strategy some retailers have been using is to give bigger discounts and better deals to customers in an effort to get people out to shop.
Jenna Gabriel, a senior in history, said she has already noticed stores trying to fight the economic slowdown.
“I’ve noticed there are a lot more before Thanksgiving sales this year,” Gabriel said. “I’ve noticed more stores staying open later too, even before Black Friday. I went to Kohl’s last week and it was open until midnight.”
Amber Combs, a junior in business administration, said one positive effect of the economic downturn heading into the holiday season has been lowering gas prices.
“[The economy] hasn’t really affected me, but it’s definitely a big deal,” he said. “With gas prices going down, I’d probably be more inclined to take a trip during the holidays.”
Pearce agreed that lower gas prices have been a good thing, but said he questions how much impact they will have.
“That’s definitely been a positive,” Pearce said of the prices. “But I’m not sure if it’s a large enough positive. People might save the money they are saving on gas because they don’t know what may happen with the economy down the road.”
Milsaps said Great Outdoor Provision Company will battle the negative holiday shopping outlook by making sure its customer service is top notch.
“Our feeling is that our products and our shopping experience is probably the best stress reducer out there,” he said. “We’ll be eager and smiling at the door Friday morning.”
Another key for Great Outdoor Provision, Milsaps said, is to make sure customers know they are appreciated.
He said Great Outdoor Provision will be giving thank you cards to customers and a $10 discount off of purchases of $100 or more.
“It encourages people to come back,” Milsaps said. “If you have a positive experience in a place you felt good about, then you will be apt to go back.”
Pearce said the conservative nature of consumers now and during the holiday shopping season will continue until the economy becomes more normal.
“If there is a sense that the financial sector seems to be closer to normal, then that will have a positive effect,” he said. “But when people are uncertain, they tend to get more conservative.”
Gabriel said she and her family will not stop shopping this year but will be more careful about how much they shop.
“My family and I have decided to keep Christmas small this year,” she said. “It hasn’t deterred me from shopping, but I’m just shopping on a smaller scale.”