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Savings Experiment: Snow Removal
Here, in Cincinnati, we have about an inch of snow on the ground this morning. However, the East Coast is getting hammered and officials have advised residents to stay inside. With 20 inches of snow falling from the sky and piling up, not only are residents of the East Coast feeling the pinch, but it is possible retailers do as well. If denizens of the coast pay attention to the warnings, it could put a major crimp in last-minute Christmas shopping. Retailer Target (TGT) has announced that it will open an hour earlier and remain open until midnight in Virginia, Maryland, D.C., New Jersey, Delaware, and Connecticut (along with some stores in Pennsylvania, New York, and Massachusetts) beginning today through Wednesday. The retailer announced this plan in order to give its patrons "more opportunity to make all their holiday purchases."
With the East Coast accounting for a large portion of holiday retail sales (with some outlets estimating 20% of sales from the region), what impact will this snow storm have on this season's sales?
One may assume that retail sales in this area will be severely impacted, as this week is the last chance for shoppers to find the right present for that special someone. I mean who doesn't wait for the last minute to do their Christmas shopping?
According to a report in this morning's Wall Street Journal, Craig Johnson of Consumer Growth Partners believes that the impact of the storm is "neutral, not negative." Even with many shoppers waiting for this last week in hopes of finding sizeable discounts, it is believed that the net effect of the storm on retailers will be neutral.
One area that could benefit is online shopping. The many people shuttered in due to the storm could turn to online retailers to complete their yuletide buying. The question is whether or not the goodies will be packed into delivery companies' trucks and on doorsteps in time for Santa's little helpers to wrap the presents?
Watch for a flurry of activity from the likes of Amazon.com (AMZN) and other retailers that can guarantee overnight delivery in time for the presents to be placed under the tree.
One may assume that retail sales in this area will be severely impacted, as this week is the last chance for shoppers to find the right present for that special someone. I mean who doesn't wait for the last minute to do their Christmas shopping?
According to a report in this morning's Wall Street Journal, Craig Johnson of Consumer Growth Partners believes that the impact of the storm is "neutral, not negative." Even with many shoppers waiting for this last week in hopes of finding sizeable discounts, it is believed that the net effect of the storm on retailers will be neutral.
One area that could benefit is online shopping. The many people shuttered in due to the storm could turn to online retailers to complete their yuletide buying. The question is whether or not the goodies will be packed into delivery companies' trucks and on doorsteps in time for Santa's little helpers to wrap the presents?
Watch for a flurry of activity from the likes of Amazon.com (AMZN) and other retailers that can guarantee overnight delivery in time for the presents to be placed under the tree.
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