Retail stocks looked a bit week today (with the notable exception of Gamestop) and I was surprised at how 'NOT that busy' it was out shopping today - not that there weren't shoppers but they were not buying like I think a lot of people hoped - at 1:30 pm Wal-Mart still had literally PALLETS of doorbuster deals like the $4 kitchen appliances, still 2/3 full, and the aisles were clear and quiet. Not what you expected at all. Mind you, we all had a FANTASTIC time out shopping and I got some really great deals (best Black Friday for me in years!) - but this does not bode well for the retail season overall IMHO.
Could we be seeing what I'll term the 'Sony effect'? If I had just spent close to $800 on a video game system and some games, how much would be left to spend overall, especially when the average shopper this year is expected to spend only $800 total and trying to reduce their overall credit card debt. Or is this merely a blip, soon to be forgotten? If sales continue to be slow, will we see a frenzy of dropped prices as the weeks progress?
Stay tuned.... and til next week, enjoy those leftovers!
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