EP Award Promo

Retailers plan battle zone in the TV aisle


The television aisles of top U.S. retailers are poised for a hard-fought contest this holiday season as chains take few chances on winning over budget-conscious shoppers, Reuters reported.

Unlike last year when some stores, such as Best Buy Co. Inc., held the line on discounts and promoted only high-end TVs, many retailers told Reuters that they plan to do whatever it takes to get the customer through the door.

For the consumer, expect to see price cuts of up to 40 percent from a year ago on big-screen TVs, plus free shipping deals and even a 36-month financing option, in the run-up to “Black Friday” on Nov. 25, the unofficial start of the holiday selling season, Reuters said.

“As we look at the holiday season, we are going to play offense,” hhgregg Inc. CEO Dennis May told Reuters. “We are going to be very promotional. We are going to be aggressive.”

U.S. shoppers have held off on buying televisions and other nonessential items in the anemic economy. But the TV market is also a victim of a lackluster product cycle, Reuters said.

Sony Corp. last week warned investors that its TV division is headed for its eighth consecutive annual loss, while rival Panasonic Corp. forecast its biggest annual net loss in a decade.

oakridge web 090123 300x250