Toys R Us To Stay Open 87 Hours Straight
With barely a week until Christmas, Toys R Us is making it easy to do last-minute gift shopping. The corporation announced in a press release Monday that its stores nationwide will remain open from 6 a.m. Dec. 21 until 9 p.m. Dec. 24, giving shoppers 87 consecutive hours to do their shopping. The extended hours exclude stores in Paramus, NJ and Puerto Rico, as well as express and outlet stores.
One special store is staying open much longer. The famous Times Square location has been open since 8am Dec. 1 and will remain open for 566 hours, until 10 p.m. Dec. 24.
The toy store chain will also be offering special discounts and deals during the holiday shopping season to entice potential shoppers, such as a price match guarantee on all products and a free gift card with the purchase of a specific iPod touch.
Sales And Shopping Hours Get A Boost
The store’s decision to stay open is no surprise for many, as retailers vie for last-minute shoppers. Kohl’s announced earlier this month that most locations nationwide would be open for more than 100 straight hours leading up to Christmas day. Most stores will be open from 6 a.m. Dec. 20 through 6 p.m. Christmas Eve.
This certainly isn’t the first year stores have opened their doors for marathon shopping hours. Toys R Us operated with similar hours last year, for example.
Still, this year’s quest for retailers to bring in last-minute shoppers may be more competitive than usual. There are typically five weekends between Thanksgiving and Christmas, the standard holiday shopping time, but quirks in this year’s calendar shortened it to just four weekends.
Retailers are trying to make up for lost time by boosting revenue, selling in four weekends what they usually sell in five. To that end, some stores are resorting to Black Friday sales techniques long after Thanksgiving, according to CNBC. Morgan Stanley analyst Kimberly Greenberger pointed to half-off merchandise at Abercrombie & Fitch, 40 percent discounts at Express and half-off sales at Banana Republic.
This is the week retailers could lose confidence in sales projections and hit the ‘panic button’ by offering deeper-than-planned promos,â€ť Greenberger said in a note.
Still, retail efforts to bring in shoppers may be in vain. According to CNBC, Citi retail analysts forecast that the number of people shopping between Dec. 15 and Dec. 21 this year will be 1 to 3 percent lower than last year.