Dec 24, 2008 6:08 pm US/Central
Last-Minute Holiday Shoppers Hunt For Deals
CHICAGO (CBS) ―
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Almost every retailer is slashing prices and offering perks to woo holiday shoppers this season.
CBS
The last minute holiday shopping frenzy could be a ray of light during this grim holiday forecast for retailers. According to the International Council of Shopping Centers, this holiday shopping season could be the worst in almost 40 years. But it's not all bad news. CBS 2's Mai Martinez found plenty of shoppers "cashing in."
The retailers' loss could be the consumers gain this holiday season. Michigan Avenue still has plenty of shoppers on the hunt for last minute Christmas deals. And it was the same story earlier today at Woodfield Mall where many shoppers were amazed by all the last minute holiday deals.
At first glance it looks like Christmas as usual at Woodfield Mall, but appearances can be deceiving. For many, thanks to the worsening economy, gone are the days of free-for-all holiday spending.
Many shoppers say for the first time in years, they had to budget.
"In this economy, you've got to look towards the future, down the road, and it doesn't look very good," said last minute shopper Tom Brock.
"I'm really trying to stay hard within a budget," said last minute shopper Faye Vorick. "Job uncertainty and I wanted to make sure that I wasn't going to regret spending a lot of money later."
But good news for Vorick and other shoppers - retailers are feeling the same economic pinch they are, and businesses are doing their best to get shoppers to part with the money they are willing to spend.
Almost every retailer is slashing prices and offering perks to woo holiday shoppers. Macy's at Woodfield even extended their hours to accommodate shoppers 24 hours a day for four days straight.
"They love the fact that they can come in and it's in the middle of the night, and they can get terrific customer service from the associates," said Melissa Troy, VP Store Manager, Macy's Woodfield.
Shoppers like Jimalita Tillman say they can sense the retailers desperation, and they like it.
"I am tearing the mall up," Tillman said. "I am buying everything in all the very, very last minute of last minute sales."
She's not alone. Several shoppers say the last minute deals were simply just too good to pass up.
"Jewelry and perfumes, you usually never get anything off, and coming here and seeing 50 percent off on the real deal, you can't beat it," Brock said.
"Everywhere we go it's 40 to 60 percent off," Vorick said. "We saw some jeans at my son's favorite store for $20."
So it seems the last minute shoppers might be getting the last laugh. One even offered this advice for all the people who got done early: "They need to come on out and maybe do some returning and get some of the better deals that are going on," Tillman said.
While it may seem like those deals are unlimited, your time to snatch them up is certainly not unlimited. Most of the shops on the Magnificent Mile will be closing at 6 p.m. Wednesday and even the 24-hour Macy's at Woodfield Mall will be closing at 6 p.m. today for the Christmas holiday.
(© MMIX, CBS Broadcasting Inc. All Rights Reserved.)
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