Kohl's tries to help customers budget with online wishlists for Black Friday
Nov. 22-27, shoppers can compare shop, print out ads, prices and photos of items on their Holiday wishlist, the Wisconsin-based chain said in a press release. It would be just like creating a wedding or baby shower registry, and the online list would help shoppers focus on things they need rather than indulge in impulse buying.
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Kohl's chief marketing officer, Julie Gardner, told Bloomberg that the new shopping tool will help shoppers on a tight budget. The company plans to reveal more than 300 early bird specials on kohls.com for what is touted as the most important shopping day of the year.
"In a tough economy for our customers, pre-shopping and planning their shopping are more important than ever because they really have to stretch their budgets," Gardner said. "If we have a list, we stay well within our budget more."
Britt Beemer, chairman of America's Research Group and a consumer behavior and retail expert, says the new offering should bode well for the retailer. Beemer's company predicts sales to be down 2.9% this holiday season.
"I think it's good anytime you get creative in making shoppers' time more efficient," Beemer said in a phone interview. "If this works out, it will be a home run for Kohl's."