Good news, Bad News

One of the biggest shopping days of the year is the day after Christmas. This year, though, the day carried less significance than in the past. In such a bare economy, there were far less deals and steals this year than in previous years. This is a natural extension of a bad economy, but many people still expected the sales to be more impressive. Still–news wasn’t all bad.

This year, store owners believe they navigated the tough economic terrain better by discounting a few items and offering other promotions, but keeping prices relatively steady for much of their inventory. This set up a game of chicken, with consumers hoping for signs of panic among retailers that would prompt last-minute price drops and retail executives betting that signs of a possible economic recovery would cause customers to finally give in and shop.

It seems to have worked well enough.