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Desperate retailers are willing to lose money to get sales this holiday season
NEW YORK (AP) ' Retailers are so desperate this holiday season that they're willing to lose money to get you to spend yours.
It's a critical time of year for merchants, which can make up to 40 percent of their annual revenue in November and December. And they're so worried that Americans are spooked by the weak economy that they're willing to sacrifice profit for sales.
Nordstrom, for instance, is one of the first retailers to offer free shipping on most orders, no matter how small. That means it may wind up paying $3 to ship $7 socks. And Sears is offering to not only match the cheapest prices customers find online, but the department store chain is giving them an additional 10 percent off the difference.