Sticking to the 'Bear' Essentials - Holiday Central

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ABOUT THIS BLOG

It's a make-it or break it time for retailers. The holiday selling season is always a critical time for retailers, but this year this may be even more true. With several retailers already falling victim to a drop in consumer spending, and filing for bankruptcy, retailers will be navigating through some tricky waters. Consumers are strapped for cash due to high energy and food prices, and unemployment is rising. The recent credit crunch has made it more challenging for retailers and consumers to borrow.

This blog will look at the winners and losers in the retail space. Who has the right strategy to capture consumer dollars? It also will look for trends in consumer spending and how that will impact the economy.

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Oct.17

2:27 PM ET

Friday, 17 Oct 2008

Sticking to the 'Bear' Essentials

Posted By:Christina Cheddar Berk

Topics:Consumers

Sectors:Retail

Companies:Build-A-Bear Workshop Inc

Add Build-A-Bear Workshop to the long, and growing, list of retailers hoping an early jump on holiday bargains will be the recipe for a successful holiday season.

The retailer [BBW Loading... () ] has focused its strategy on value, boosting the number of stuffed animals it sells in the $10 to $12 price range. With the new additions, about 30 percent of its products are now selling at this price level.

"People are feeling the pinch everywhere," said Chief Executive Maxine Clark, in an interview with CNBC.

"While we're in the best malls, the traffic there is down as well," Clark explained.

"We want to make sure that when (customers) come for the holidays, for their children for Christmas — because there will be a Christmas, it may not be the same — but we want to be sure, we are providing our customers with the best value," she said.

And with consumers saying they will stick to the bare essentials this season, Clark also wants to remind customers that their bear, kitty or dog can go "bare."

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