Nov 10, 2009 10:32 pm US/Central
Hot Toy Shortage May Dampen Holiday Spirit
Retailers Ordering Less Merchandise In Tough Economy
CHICAGO (CBS) ―
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Popular toys are selling out at local retailers early this season.
CBS
There are seven weeks until Christmas, but if you haven't started your shopping already, you could be out of luck if you're looking for some of the more popular gifts. Why? As CBS2's Mike Parker reports, blame the tough economy.
Most retailers got caught with a lot of unsold merchandise last year and they're not going to make the same mistake in 2009. That means likely shortages of some very popular gifts.
One of the hottest toys of the season is called Mindflex by Mattel. You put on a helmet and using your brainwaves, try to make a plastic ball float in the air. But even this early in the season, the Target store at Roosevelt and Clark in the South Loop is all sold out.
U.S. retailers have cut back dramatically on their inventories, after getting burned last year.
Pete Gill, of the Illinois Retail Merchants Association, says that "since probably the first or second quarter they've stopped ordering things in the amount they were ordering last year. Inventory is down between 15 and 20 percent in the stores this year."
One toy industry analyst predicts shortages of the top 100 toys by early December.
Want a highly prized Barbie "Fashionista" doll? The South Loop Target store is sold out already. And there are empty shelves where the popular "Zhu Zhu" toy hamsters used to be.
Hasbro's Nerf Dart Gun is quite hard to find nationally, but we found dozens of them at Target. So did Kathy Alexander, who bought one for her son Malik when he wasn't looking.
She said she was shopping early, "so I can get these items 'cause they're available."
IRMA's Pete Gill says that this year, "shop early" is not just a slogan. It's good advice.
(© MMIX, CBS Broadcasting Inc. All Rights Reserved.)
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