On November 25, 2008, J.C. Penney Company, Inc. (NYSE:JCP) announced that it is going to give the most compelling Black Friday prices ever offered in the company’s history. More than 400 products will be given on deep discounts.
According to Marshal Cohen, Chief Retail Analyst, The NPD Group, Inc., retailers would have to give shoppers the products they want at any price. In his 33 years of service in the retail sector for the first time, he is seeing that shoppers would enjoy 75% off on Black Friday and the week after that.
Online sellers have also become active as they know that some shoppers are going to shop online for better price and free shipping offers. On November 24, 2008, eBay Inc. (NASDAQ:EBAY) introduced “$1 Holiday Doorbusters.” Company officials said that 100 gift items including digital cameras and GPS devices, one luxury item, including a brand-new Chevrolet Corvette, will be listed each day until December 8, 2008 for $1 fixed price.
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