02 Nov Wal-Mart starts offering online holiday deals — a month early
Most Halloween candy is still sitting uneaten in pillowcases, but retailers such as Wal-Mart Stores Inc. are already kicking off their Christmas promotions in hopes of surviving harsh holiday conditions this year.
Bargain basement deals normally reserved for Black Friday and Cyber Monday are already emerging — a month earlier than usual — as stores race to claim a share of what is forecast to be a lukewarm shopping season.
Wal-Mart launched a slate of online offers Friday, including 36% savings on a JVC 42-inch LED television and 51% savings on a 10-inch Xelio tablet. The retailer said the $299 and $49 price tags, respectively, were the lowest it’s ever offered for those products.
The chain discounter also unveiled bargains on the Nintendo DSI XL, the Sodastream soda maker and products from Apple, Disney and Vizio.
To sweeten the deal, Wal-Mart said it was offering its most expansive free-shipping program. Orders over $50, including 99% of items on Walmart.com, are eligible.
The company said it tripled the number of products that can be ordered online and picked up in stores on the same day. The retailer is also trying to lure more customers via digital channels, urging them to learn about deals via email, Facebook or the company’s mobile app.
Joel Anderson, chief executive of Walmart.com, said in a statement that customer traffic tends to spike the day after Halloween.
“Customers want to relax with friends and family during the holidays, and with our early deals we are helping them make the most of their time and helping them stretch their dollars further,” he said.
Morgan Stanley, in a report Thursday that predicted the worst holiday shopping season since 2008, worried that early discounting could hurt retailer profits.
Malls are already entering the season at a disadvantage — the shortest Thanksgiving-to-Christmas time frame in years, lingering aftershocks from the government shutdown, weak consumer confidence.
Several more chains — J.C. Penney and Macy’s among them — are opening on Thanksgiving this year without bothering to wait for Black Friday.
On Friday, Amazon.com launched its Black Friday Deals Store. In an unprecedented move, the e-commerce giant is running two Deals of the Day each day through Dec. 22.
Holiday shopping amounts for as much 40% of some retailers’ annual revenue — putting pressure on companies that have slogged through a slow year of sales.
Earlier, data firm ShopperTrak predicted that holiday sales growth would be the slowest in four years.