- US Home Prices Up 5th Month, 2nd Straight Quarter
- Revised GDP Reading Puts Growth at 2.8%; Inflation Tame
- FDIC Insurance Fund Falls to Negative $8.2 Billion
- US Economy Mired in 'Form of Depression': Rosenberg
- Strong Banks, Weak Credit: Treasury Rethinks TARP
- Fairfax Lawsuit Keeps Heat on Chanos, SAC's Cohen
- Weak Dollar Is Golden for Mining Companies
- How Many US Consumers Will Shop this Weekend?
- Buyers Look For Bargains At Luxury Condo Auction
- On Assignment: Europe & Asia
- The L.A. Extravaganza: A Test for Auto Shows
- 8 Stocks That Could Gain With Rising GDP
- 5 Stocks That Benefit from Health Care Legislation: Analysts
- Can Murdoch Help Bing Challenge Google and Shift the Content Equation?
- HP's Mark Hurd
- HP Comes in As Expected; Is It Time to Buy?
- 9 Stocks That Play Rising Water Costs: Strategists
- Weis' Deal Likely Won't Change Big Money Contracts
MOST SHARED
- The 'Real' Jobless Rate: 17.5% Of Workers Are Unemployed
- US Home Prices Up 5th Month, 2nd Straight Quarter
- China Eastern to Complete Shanghai Air Buy by End '09
- Gold Will Collapse Like Oil Did in 2008: Charts
- Weak Dollar Is Golden for Mining Companies
- Revised GDP Reading Puts Growth at 2.8%; Inflation Tame
- Wave of Debt Payments Facing US Government
- CA "More Profitable" After Saving Energy: CEO
- How Many US Consumers Will Shop this Weekend?
Text Size 
Get ready for an onslaught of holiday bargains.
Almost three-quarters of chief marketing officers expect U.S. retailers to offer more discounts and promotions this holiday than last year, to entice shoppers who are being squeezed by the credit crunch, according to a survey released Monday by BDO Seidman.
This year, credit concerns muscled out high energy costs as the top issue that chief marketing officers expect will affect the holiday shopping season.
When asked to pick one issue that will have the greatest impact on holiday shopping, 27 percent of chief marketing officers said credit concerns, while 22 percent cited high energy costs, according to the survey.
Last year, 52 percent of the CMOs surveyed cited high energy costs as the top issue.
Retailers are heading into the crucial holiday season worried that shoppers will rein in spending as they face a credit crunch that could limit their holiday cheer.
Americans cashed out hundreds of billions of dollars in home equity as credit came cheap during the housing boom. But with the subprime mortgage mess triggering tighter financing terms and home prices falling in some regions, the trend has slowed, threatening to curb consumer spending.
"When you consider that discounting was widespread during the 2006 holiday shopping season, the forecast of even more discounting this season communicates both a growing anxiety among retailers about reaching sales goals and the potential for value buying for consumers," said BDO Seidman partner Al Ferrara in a statement.
According to the survey, 64 percent of the CMOs said their sales and inventory purchase plans are more cautious this year than a year ago.
The survey, conducted in October, questioned 100 chief marketing officers at U.S. retailers, excluding automotive dealers and restaurants, with annual revenue of more than $100 million.
Print
Email
- Warren Buffett and Bill Gates discuss the economy and other subjects with CNBC's Becky Quick.
- …you'll want to be prepared. Tips for getting the most out of the post-Thanksgiving shopping frenzy.
- A new McDonald's in Manhattan is the nation's first to sport a sleek, chic interior imported from stores in London and Paris.
- One shopper explains why he gets up at 3am on the day after Thanksgiving to go shopping every year.
- A diet high in fat and sugar might actually be good for your portfolio.
- From the AIG&T to the Merrill Lychee, Jane Wells lists this year's holiday cocktails.
Data is a real-time snapshot *Data is delayed at least 15 minutes