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CNN Live Saturday
Expert Shows You How To Get Great Holiday Deals
Aired December 06, 2003 - 14:35 ET
THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.
THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.
RENAY SAN MIGUEL, CNN ANCHOR: The snow along the east coast is making it look a lot like Christmas. And with us now from snowy New York City, is Jack Otter with "Smart Money" magazine. He is going to fill us in on how to find the best shopping bargains this season. Jack thanks for being with us.
JACK OTTER, SMARTMONEY MAGAZINE: Great to be here
MIGUEL: I have to ask you though, before we get totally away from weather, this is the last thing retailers wanted to see in the northeast are people staying at home instead of out jamming the malls and everything all it takes is really one bad weekend to ruin the holiday shopping season for retailers, right?
OTTER: Absolutely, I mean it is a great day to be an online retailer in the northeast today and lousy to be a brick and mortar retailer. A lot of people will stay in and it will have an impact. Obviously the Thanksgiving weekend is the one that gets all the attention in the press, but this weekend is crucial for sales and it's not going to be a good one in a lot of parts of the country.
MIGUEL: Has the economy affected the quality and quantity of the discounts and the deals we were already seeing in the malls in the real world shopping areas?
OTTER: Well, that's a good question. It's interesting, for the last two years, as you know, it's been pretty mediocre holiday shopping season for the retailers. It has been great for those buying. So finally, this year, the retailers, they just simply ordered less stuff. They just didn't want it to have these huge inventories they had to mark down.
So, now the economy's picked up just a little bit, and they're selling out faster. So I don't think shoppers are going to see those pre-Christmas sales that were just a bonanza for them last year.
MIGUEL: And also for those consumers who liked to wait until the 23rd to their shopping, it sounds to me even more items may not be on the shelves, if they head out there?
OTTER: Absolutely, I mean now we've had to take that way grain of salt. Because obviously, that's the line the retailers want to pitch. But there's a certain truth to it, the really hot items, they're running out of them. So if you have your heart set on something, or your child does or your spouse does, best to go out and get it now. Brave the snow. MIGUEL: All right, you mentioned the Internet earlier how that is becoming more and more of an option for lot shoppers. The two ways this has affected shopping it seems to me are the online, I mean obviously the convenience and the online discounts and the chance to compare prices on the Web.
OTTER: Well, that's a wonderful tool for people who have the patience to do it. Electronics is a great example. I love the site Seenet, because it does two things for you. First of all it allows you to do some really good research. They have actual reviewers there who can not only tell what you they think of a product, but they really run down the specs, they compare the different technologies, say the different format on digital camcorders or something like that. And then you can actually do the price check and see who's selling it for the least.
I did find, though, that as much as I like research on Seenet, I found slightly better prices on Bizrate.com. So again, you have to surf a little to find the best ones.
(CROSSTALK)
MIGUEL: I was going to ask, running out of time here, in terms of the quality of the deals, you talked about the discounts out there in the real world, the bricks and mortar shopping. What about the Internet and the hunt for deal that can go on there?
OTTER: Well, I guess the thing is that somebody, somewhere is offering what you want for a little less than the Best Buy or the Circuit City or whatever it happens to be around the corner. The Internet allows you to look at everybody's price, and really find the best one.
Now, some are a little shady. You are going to see retailers you've never heard of. Its buyer bewares in those cases. Use a credit card, and it might be worth to spend the extra $20 buck and go to someone you know.
MIGUEL: Exactly, always check the privacy policies as well.
OTTER: Absolutely.
MIGUEL: We have to leave it there. I'm sorry, but thanks for your time and for coming in on such a snowy day in New York City. Jack Otter, senior editor at "Smart Money" magazine. Thanks for being with us.
OTTER: Great to be here.
TO ORDER A VIDEO OF THIS TRANSCRIPT, PLEASE CALL 800-CNN-NEWS OR USE OUR SECURE ONLINE ORDER FORM LOCATED AT www.fdch.com
Aired December 6, 2003 - 14:35 ET
THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.
RENAY SAN MIGUEL, CNN ANCHOR: The snow along the east coast is making it look a lot like Christmas. And with us now from snowy New York City, is Jack Otter with "Smart Money" magazine. He is going to fill us in on how to find the best shopping bargains this season. Jack thanks for being with us.
JACK OTTER, SMARTMONEY MAGAZINE: Great to be here
MIGUEL: I have to ask you though, before we get totally away from weather, this is the last thing retailers wanted to see in the northeast are people staying at home instead of out jamming the malls and everything all it takes is really one bad weekend to ruin the holiday shopping season for retailers, right?
OTTER: Absolutely, I mean it is a great day to be an online retailer in the northeast today and lousy to be a brick and mortar retailer. A lot of people will stay in and it will have an impact. Obviously the Thanksgiving weekend is the one that gets all the attention in the press, but this weekend is crucial for sales and it's not going to be a good one in a lot of parts of the country.
MIGUEL: Has the economy affected the quality and quantity of the discounts and the deals we were already seeing in the malls in the real world shopping areas?
OTTER: Well, that's a good question. It's interesting, for the last two years, as you know, it's been pretty mediocre holiday shopping season for the retailers. It has been great for those buying. So finally, this year, the retailers, they just simply ordered less stuff. They just didn't want it to have these huge inventories they had to mark down.
So, now the economy's picked up just a little bit, and they're selling out faster. So I don't think shoppers are going to see those pre-Christmas sales that were just a bonanza for them last year.
MIGUEL: And also for those consumers who liked to wait until the 23rd to their shopping, it sounds to me even more items may not be on the shelves, if they head out there?
OTTER: Absolutely, I mean now we've had to take that way grain of salt. Because obviously, that's the line the retailers want to pitch. But there's a certain truth to it, the really hot items, they're running out of them. So if you have your heart set on something, or your child does or your spouse does, best to go out and get it now. Brave the snow. MIGUEL: All right, you mentioned the Internet earlier how that is becoming more and more of an option for lot shoppers. The two ways this has affected shopping it seems to me are the online, I mean obviously the convenience and the online discounts and the chance to compare prices on the Web.
OTTER: Well, that's a wonderful tool for people who have the patience to do it. Electronics is a great example. I love the site Seenet, because it does two things for you. First of all it allows you to do some really good research. They have actual reviewers there who can not only tell what you they think of a product, but they really run down the specs, they compare the different technologies, say the different format on digital camcorders or something like that. And then you can actually do the price check and see who's selling it for the least.
I did find, though, that as much as I like research on Seenet, I found slightly better prices on Bizrate.com. So again, you have to surf a little to find the best ones.
(CROSSTALK)
MIGUEL: I was going to ask, running out of time here, in terms of the quality of the deals, you talked about the discounts out there in the real world, the bricks and mortar shopping. What about the Internet and the hunt for deal that can go on there?
OTTER: Well, I guess the thing is that somebody, somewhere is offering what you want for a little less than the Best Buy or the Circuit City or whatever it happens to be around the corner. The Internet allows you to look at everybody's price, and really find the best one.
Now, some are a little shady. You are going to see retailers you've never heard of. Its buyer bewares in those cases. Use a credit card, and it might be worth to spend the extra $20 buck and go to someone you know.
MIGUEL: Exactly, always check the privacy policies as well.
OTTER: Absolutely.
MIGUEL: We have to leave it there. I'm sorry, but thanks for your time and for coming in on such a snowy day in New York City. Jack Otter, senior editor at "Smart Money" magazine. Thanks for being with us.
OTTER: Great to be here.
TO ORDER A VIDEO OF THIS TRANSCRIPT, PLEASE CALL 800-CNN-NEWS OR USE OUR SECURE ONLINE ORDER FORM LOCATED AT www.fdch.com
