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Retail Countdown: 2 Weekends Left

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By MARY SHEDDEN, The Tampa Tribune

Published: December 15, 2007

TAMPA - You may hate those jammed parking lots at the mall, but retailers are starting to smile wide.

Today marks the start of the final push toward Christmas and the most important days for retailers hoping to add a final boost to an otherwise lackluster year. These final weekends mark the time when procrastinators get in line with traditional shoppers.

"The last two weekends are the busiest," said Jay Botsch, general manager of Tampa's WestShore Plaza. "You've got the men and other people who wait to the last minute. And some people, they love it for the hustle and bustle."

The holiday season in general accounts for about 25 percent of all annual retail sales. The Florida Retail Federation said the final weekend before Christmas has historically been the leading sales weekend of that period - bigger than the so-called Black Friday weekend after Thanksgiving.

As tradition dictates, nearly all retailers have extended their operating hours since the day after Thanksgiving. Starting today, though, many malls are staying open an hour later at night. Individual department stores also are opening up their doors for early bird and night owl specials.

This year, that final push is aided by an extra weekend of shopping; 2007 marks the longest holiday season in six years. The International Council of Shopping Centers reports the number of shopping days between Thanksgiving and Christmas has grown to 32 from 29 over that time.

Industry watchers are hoping that the additional shopping time can make a difference. Although the National Retail Federation estimates that just 4 percent of shoppers start their shopping in the final two weeks of December, it doesn't mean people are done handing over their credit cards for more gifts.

"Consumers continue to be slow in finishing their holiday shopping - according to our consumer surveys - which implies a big surge in demand is yet to come." said Michael P. Niemira, ICSC's chief economist.

"As such we will be watching the next few weeks to determine how successful this holiday shopping season will be for retailers."

Last week, the ICSC reported that weekly chain store sales rose slightly, by 0.2 percent. On a year-over-year basis, sales slowed by 2.3 percent.

The nation's largest retailer, Wal-Mart, does shift gears for the final two weekends, said Judy Hobbs, Wal-Mart's market manager for Tampa. For example, additional bikes are assembled, and top sellers are placed in more convenient locations for shoppers who like to grab and go, she said.

"It's definitely strategic shopping for that male shopper," she said.

Botsch, whose mall includes four major department stores, said he hasn't noticed as many retailers worrying about having excess inventory in the final days. As a result, he doesn't expect to see extreme incentives offered.

"Over the years, all the stores seem to deal a lot more with their inventory control," he said.

Wal-Mart's approach to this issue has been aggressive. Several new holiday strategies - launched as early as Oct. 1 - aim to stretch the company's holiday sales over a longer period of time. Since then, 20 percent of the entire store's inventory has been marked down, Hobbs said.

Another tactic involves Wal-Mart's Web site: the "site-to-store" program allows customers to buy a product online that will be shipped for free to a local store. Hobbs said the site-to-store plan automatically increases each store's inventory, specifically for larger products not normally kept on site.

Retailers are united in knowing one product that will increase in popularity as Christmas Day nears: gift cards. An estimated 10 percent to 15 percent of all holiday gifts given in recent years has fallen in this tiny, plastic category. Hobbs said it's one thing all retailers, including Wal-Mart, are prepared to offer up until the last minute.

"I promise you we are not running out of gift cards," she said.

Reporter Mary Shedden can be reached at mshedden@tampatrib.com or (813) 259-7365.

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