Shop Talk

Retailers, consumers and prices

The Real Winner in Consumer Electronics

Photo
-

If you want to know who was the real retail winner amid all the Black Friday frenzy, just look in the mirror.

That’s the word from Jim Barry, a former editor of Video magazine, who is now a spokesman for the Consumer Electronics Association.

Barry said consumers found “really unbelievable” prices the day after Thanksgiving on some electronics items, such as 42-inch flat-panel TVs selling for $600 to $800.

But “for retailers and manufacturers, the question is was there any profit in any of this stuff?” he added.

from DealZone:

Guns n’ Roses rocks Best Buy, gently

After scoring one of the biggest exclusive deals in music retailing in a long while-- or at least since Wal Mart snagged the exclusive for the new AC/DC opus "Black Ice" earlier this year-- Best Buy began selling the long awaited new recording by Guns n' Roses, "Chinese Democracy," on Sunday.

But stepping down the escalator at the chain's Chelsea story in New York City on Sunday, when a more than 17 year wait for original Guns n Roses material ended, it would have been easy to walk by the modest display box with the Chinese Democracy CDs and vinyl LP's. There were few other signs of CDs being available, and the store was not blasting it on the P.A. system as a record store would have back in the old days.

Check Out Line: This week in retail wasn’t pretty

Photo
-

Check out a stream of extremely sobering news from – and for – retailers.

This week, quarterly reports came in from Macy’s, Kohl’s, Nordstrom, JC PenneyCharlotte Russe, and Abercrombie & Fitch.

Expect more promos, less help this holiday

Photo
-

The financial crisis of the past two months has rocked retailers, and many are now planning to hire fewer seasonal workers and roll out promotions earlier than planned to try to salvage holiday sales, according to a recent survey by the Hay Group.
 
The human resources consulting firm conducted an informal survey in September with 20 of the top American retailers, including Best Buy, JC Penney, Costco, and Macy’s to get a glimpse into their plans for the holiday season.

The group then ran the survey again this month to find out how those plans may have changed given the recent financial crisis. Here is what the they found: 
 
Holiday Sales  

I’m Todd Davis and here’s my Social Security number

Photo
-

lifelock.jpgGiving out your Social Security number on national television is bound to attract trouble. But that hasn’t stopped Lifelock Chief Executive Todd Davis from flashing his social – 457-55-5462 – on television, the Internet, and print ads.

Davis says he’s so certain Lifelock will protect your identity and preserve your credit he gives out his social security number to prove it. He’s gotten around 100 dings on his credit, including people trying to get loans under aliases like Jabba T. Hutt.

Consumer feedback built this laptop

Photo
-

Best Buy is looking to lure more consumers with a “Blue Label” series of products that initially includes laptops and is expected to expand to other product lines.

toshiba1.jpgThe retailer has started selling two notebook computers made by Hewlett-Packard and Toshiba that include features consumers had asked for, such as a lighter-weight design, backlit keyboard and longer warranty.

Best Buy looks to ring up more phone sales

Photo
-

bbuylogo.jpgBest Buy is looking to ring up more market share gains now that it has added mobile phone shops to all of its U.S. stores.

The electronics chain has completed the rollout of Best Buy Mobile shops at its 965 U.S. stores – three months ahead of schedule.

Check Out Line: Inflation crimps consumer companies

Photo
-

cocoaBy Ben Klayman

Check out how high gas and commodity costs are crimping Hershey and Best Buy.

Chocolate maker Hershey cut its long-term earnings growth target and said it would boost advertising as it moves to reverse falling profits.

However, the largest U.S. chocolate company, which is meeting with analysts, said the pressures it faces — soaring prices for cocoa , energy and other commodities — remain the same.

Check Out Line: It’s the Reuters Retail Summit

Photo
-

clothes.jpgCheck out a bunch of retail executives talking about the state of the industry, economy and the outlook for holiday shopping.
 
It’s the Reuters Consumer and Retail Summit, being held this week in New York, featuring top executives from Borders, Best Buy, Toys “R” Us, Jones Apparel, Perry Ellis and others.
 
The executives meet with Reuters reporters as most retailers are struggling to attract consumers that have been clobbered by $4-a-gallon gasoline, falling home prices, a credit crunch and rising food costs.
 
Sales got a bit of a boost in May as consumers started to spend their tax rebates. But analysts say that bump could be fleeting, with consumers still under pressure after the rebates have been spent.
 
To find out what retailers think, check out the Retail Summit page all week.
 
Also in the basket:
 
InBev cautions Bid about striking Modelo deal
 
Trust chairman sees change, but no sale, at Hershey
 
CostPlus rejects Pier 1 acquisition offer
 
Starbucks says international growth to cushion U.S. weakness
(Photo: Reuters)

  •