Christmas holidays are the next target after Halloween as the shopping avenues expand during the Christmas season, making retailers keep their eyes wide open to look for the right opportunities to hook customers. The Christmas season shopping factor has led to a war between Wal-Mart and Target as the retail giants have slashed their toy prices to attract more and more customers.
Toy-shopping is done more enthusiastically as it is mainly done for Christmas and citing the shoppers’ tendency to bargain over deals, Wal-Mart has decided to sell toys at lower rates, giving a direct competition to the Target Corp, a retailer known for selling low-cost toys.
Craig Johnson, president at a retail and consumer consulting firm –Customer Growth Partners said, "It will still be a very competitive season for toys,"
"The reason you are seeing so much early discounting is that retailers are trying to get an early share of the market," added Johnson.
USA’s economic condition is still improving and retailers are hopeful that if they manage to attract the consumer-traffic, it will help boosting their profits in a bigger way. Moreover, most retailers are aware of the sluggish economic pattern and are remaining low-profile in order to lure shoppers during the holiday season.
For instance, big daddies of the US retail market – Amazon and Toys “R” US declared 25% price cuts over toys. This clearly means that there is going to be an aggressive price-slashing program to boost the purchase. Another plan adopted by the retailers is to offer free-shipping services to hook more orders.
Thus, along with the usual discounted services, retailers are offering price-cuts on hot toys in order to pull customers. And, the war fought over toy prices is not going to end anytime soon as customers are also opting to buy online to make the entire shopping process convenient.
This may lead to another retail war, which will be fought in the online space.
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Wal-Mart & Target reduce Toy prices as toy markets get competitive
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Amazon, Christmas holidays, Christmas shopping, Target, Toys “R” US, US retail market, US toy market, Wal-Mart, Wal-Mart toy prices
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