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"This holiday season, retailers are resorting to blunt force promotions to coax shoppers," Spieckerman said.How much should you contribute to your 401(k)? Some of them even had competing deals when Amazon held its Prime Day sales in July.Īt the time, Amazon raked in about $12 billion in sales, according to Adobe. Major retailers such as Target and Walmart have been giving big discounts for months to get rid of excess inventory that piled up as consumer's cut back on discretionary spending. The early start to the holiday shopping season, however, does not come as a surprise. online holiday sales are expected to rise this year at their slowest pace since at least 2015 and grow only 2.5% to $209.7 billion, according to Adobe Analytics. Inflation and early discounting is also expected to slow holiday spending for the year. at the lower end of the income spectrum, those consumers may hold off and buy closer to need," Telsey Advisory Group analyst Joseph Feldman said. "The middle- to upper-income consumer is likely to take more advantage of the current deals to get a jump on the holiday season. Kohl's Corp (KSS.N) and Best Buy Co Inc's (BBY.N) 48-hour sale also runs on the same days as Amazon's event, while Target Corp's (TGT.N) "Deal Days" were from Oct. 10-13 to counter Amazon's discount days, with deals on everything from Hot Wheels toys to luggage. Walmart Inc (WMT.N) is holding a "Rollbacks and More" sale event from Oct. The thinking is that the early bird catches the dollars," said Carol Spieckerman, president at consultancy Spieckerman Retail. "Retailers will likely fight harder and earlier for potentially fewer dollars this year. The two-day "Prime Early Access Sale" shopping event for Amazon members, which starts Tuesday, is much like the Prime Day summer marketing blitz and will compete with early discounts from rival retailers. Oct 11 (Reuters) - Inc (AMZN.O) fired up the holiday shopping season with its second major sales event of the year as rivals from Walmart to Best Buy joined in with discounts to woo customers grappling with inflation-squeezed Christmas budgets.
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