5/16/2011 11:29:00 AM
Labels: Memorial Day
Memorial Day is officially known as the time for remembering all those who have died serving our country.
Unofficially though, it also marks the beginning of the summer. The beginning of sundresses and white shoes, sandals and bikinis, and of course, those DIY projects the winter months prevented us from tackling.
According to Tod Marks, senior project editor for Consumer Reports, stores in 2009 were overwhelmed with products, especially apparel, due, in large part, to the recession and the demand for lower prices. As a result, large chains have been cutting prices left and right in order to offer consumers larger-than-life discounts. Query trends from 2010 confirm this continued interest in sales as the term “Memorial Day Sales” rose over 56% from 2009 to 2010.
Another trend we’re seeing around Memorial Day is price cuts on home improvement items. Whether it’s building a new deck or replacing old appliances, home improvement stores are offering up deals that can help kick start your latest project. You can expect to see the biggest markdowns on washers and dryers and other big-ticket items as consumers begin to spend more freely on items to fix up their homes. In the fourth quarter of 2010 alone, sales on big-ticket items rose nearly 10% at Home Depot and the trend is expected to continue.
Retailers are also beginning to mark down hot-ticket items such as TVs and video games that can help to complete the home enhancement transformation. Technology equipment tends to be marked down around Memorial Day as retailers are pushing to get customers spending. By offering the lowest price around on hot tech items, retailers are more likely to draw the in-store crowd they’re looking for and give the consumer the price they’ve been waiting for.
Lastly, keep in mind that many consumers will be comparison shopping in order to find the best deal around. Consider creating an online e-circular that highlights your best discounts and promotions. It’ll help consumers find all of their summer essentials without driving around town or breaking the bank.
Happy Memorial Day from all of us on the Google Retail Team!
Posted by Angela Cortese, The Google Retail Team