Best Buy, determined to carve out a niche during the increasingly competitive Black Friday sales season, introduced some of its "Doorbuster" sales this past Friday that will last through Thanksgiving.
To heighten the stakes, Best Buy announced last week that it will honor its "Holiday Low Price Guarantee" through Christmas Eve.
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The low price guarantee means if a customer buys an item at Best Buy and then finds it at a lower price elsewhere, that item will be eligible for a price match and a refund for the difference.
Some of the Best Buy deals include:
- Vizio 50-inch TV for $449.99 after $200 savings.
- 32-inch Toshiba TV for 199.99.
- Customers purchasing a fourth generation Apple iPad with retina display will receive a free $75 Best Buy gift card.
Deals will be a crucial part of the sales this holiday season.
"Stores know that they are well into a fight," Ken Perkins, president of the research firm RetailMetrics, told The Associated Press.
"The vast majority of consumers are distressed."
The commerce department stated that retail sales were up a measly 0.4 percent in October and were flat in September. While Americans shell out for expensive items like cars and furniture, it will likely come at the expense of discretionary spending on items like clothes this season.
The National Retail Federation expects retail sales to rise 3.9 percent during the final two months of the year to $602.1 billion. The AP reported that while that percentage is higher than 2012, it's lower than the 6 percent growth seen before the recession.
"We continue to see anxiety regarding the economy and the ability to stay within household budgets, particularly among lower and middle-income consumers," Kathee Tesija, executive vice president of merchandising for Target, told the AP.
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