KEY POINTS:
The next nine days could determine how generous retailers will be in the much-awaited Boxing Day sales.
Retailer's Association chief executive John Albertson said retailers were waiting nervously to see if slow sales would pick up in the final days before Christmas. If they did not, shoppers could be in for a Boxing Day treat.
"So much of the pre-Christmas sales comes in at the last 10 days ... it's all about who holds their nerve," he said. "It's a dreadful time of year in a sense for retailers because they're waiting to see just to what extent that pre-Christmas boom is going to happen. That dictates to an extent what's going to happen after Christmas."
Retailers have been discounting heavily in the run-up to Christmas, leading some shops to warn customers - perhaps predictably - not to count on big savings in the New Year.
Retail Merchants Association head Russell Sinclair said shoppers would be better off taking advantage of the discounts now as the New Year would not be so generous. "There are very good bargains out there now and my recommendation would be: 'If you need it, buy it' - because come the New Year, it's going to be dearer."
The Warehouse general manager for marketing Stuart Yorsten said shops were offering better discounts than usual for this time of year in a bid to get people through the door. "I think everyone - with our economic conditions - is discounting more than previous years to get people shopping.
"We've been running sales in one shape or another for the past few weeks. But to be honest we've always got specials on."
Mr Yorsten said The Warehouse expected a busy week just before Christmas. But he hinted the discounts might not hang around. "I'd suggest you get in this week."
Mr Sinclair said many retailers had made necessary moves to get shoppers into their stores early.
"With the world economic crisis and the situation flowing into New Zealand, our retailers I think have not panicked, but have made moves to get their share of the market - hence their big discounts this year."
But Farmers chief executive Rob McDermott said the Boxing Day sales would be "especially good this year".
Farmers would be offering between 20 and 50 per cent off.
Noel Leeming Group chief executive Andrew Dutkiewicz said Noel Leeming and Bond & Bond would offer discounts on a product-by-product basis. Customers could expect greater discounts come Boxing Day, but there were risks in waiting, he said.
"Products like toys and novelty items - yeah, you'd probably get a better deal after Christmas. But that's if we haven't sold out," he said. "The risk is, the popular stuff has run out.
"The biggest news for us is we already know that TVs, computers and laptops [will go up] come the New Year."
Suppliers of whiteware, appliances and electronics have told retailers wholesale prices will go up between 10 and 25 per cent next month.
