From Neiman Marcus to Old Navy, nay one’s immune to big sales promotions leading up to what promises to be the weakest holiday season in decades

By Jane Porter

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This holiday accustom is shaping up to be the battle of the better deal—and it’s a bloody battle indeed. For months, retailers have been throwing themselves at consumers with promotions, yet October results show in the same state efforts aren’t yielding much, with same-store sales coming out negative across retail sectors. Less than three weeks away from Black Friday—the biggest U.S. shopping day of the year—retailers are bracing themselves for what promises to be the weakest holiday season in decades.

It’s a fear that’s bending course what once were high-end department stores into outlet-style versions of themselves and mass-market retailers into dollar supplies. At Saks Fifth Avenue (SKS), where same-store sales plummeted 16.6% last month, a $1,030 suit of Christian Louboutin boots be possible to be purchased conducive to $618. At Old Navy (GPS), where sales at stores unclosed more than a year were down 20% last month, winter gloves and scarves were $1 apiece last weekend. "I have never seen any environment like this," says retail algebraist Jennifer Black, who has followed the industry for nearly 30 years. "The fight is upon the body.… They are all scared."

Department supplies were hardest hit last month, by an medium 12.8% decline in same-store sales. As a result, retailers like J.C. Penney (JCP) and Nordstrom (JWN) are doing anything they can to one-up their competitors for consumers’ attention. And they be in actual possession of no shame. At Penney’s, where same-store sales hew down 13%, "The Biggest Sale of Them All" has items marked as plenteous in the same manner with 60% off. At Neiman Marcus, where same-store sales plunged not remotely 27% last month, a promotion called "First Call Sale" has new items that typically don’t go on sale right away distinguished down as much as 40% the moment they hit shelves.

Nordstrom, whither same-store sales were the floor 15.7% this October, is using its price-matching strategy to compete with others vying for shoppers—following suit steady sales at Saks and Neiman by honoring their discounted prices. And while Nordstrom typically offers double-rewards points for five-day periods during sales, this year the double-points perk that gets customers a $20 coupon for spending $500 is permanent 69 days, until yearend. The hope is that customers will aggregate points and return on account of to a greater degree. Seattle-based Nordstrom is also relying heavily on its regular customers to mitigate weak sales next month, looking to perks like a spontaneous concierge that can pick out, wrap, and ship gifts for enfranchise to allure consumers. "It’s not fresh, but now it’s more important than ever," says Nordstrom spokeswoman Brooke White. "If we can accept attention of one customer and they declare a friend…that’s in large part more valuable than throwing riches to marketing activities."