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Holiday Update : The Mid-Month Report    by Karen Koza

As Patricia Pao, founder of The Pao Principle, a retail consultancy in New York told Hosiery News earlier this month, the stores are packed with holiday shoppers.

But those consumers are not exactly whom one might expect, the expert explains. “Many of today’s sales are being driven by foreign tourists, and this is particularly true in the luxury market. “ Foreigners arriving here with empty suitcases to scoop up brand names and the most desired labels to take advantage of a weak dollar versus the euro is a regular phenomenon on the streets of Manhattan this holiday season. “The savings more than make up for the price of the plane ticket,” one traveler to New York detailed.

That’s not to say that Americans aren’t shopping, she adds. “They are being a bit more cautious. They are hitting the stores but shopping conservatively and on sale. Americans are celebrating but a bit more quietly.”

Sales apparently abound. “We are seeing more promotions than before, particularly in malls. At one location, I shopped all day and brought my receipts to customer service to add up my day’s total and I received a gift card in the amount of 20% back,” Pao confirms.

Pao insists that there is no denying the tremendous foot traffic in stores this December, but points out that consumers are also logging on as a means of saving money as well as time when shopping for holiday gifts.

Hosiery News did some investigating to identify some ingenious ways one can exercise some cyber savvy when shopping:

• Log on to http://www.slickdeals.net/ for daily specials, which not only include promotional prices, but often free shipping.

• Visit www.couponcabin.com for a complete list of retailers; you can shop by store or category.

• “A Smoking Hot Code of the Day” may be found at www.mycoupons.com. A recent hot code offered a 15% discount on an entire purchase at a popular retailer for children’s toys.

• Have a favorite brand or retailer? Most web sites offer a registration option. Exercise that option and you will get special offers and discounts in your email box on a regular basis.

• Have a specific product in mind? Type in the product with the words “best sale price” or try www.pricescan.com. You will likely be surprised at the results.

It may not be too late to shop online and receive your purchases in time for the big day. When in doubt, call the customer service line and confirm delivery and be sure to record the tracking information so you can follow the progress of your package and ensure receipt.

Whether you are feeling flush or conservative this season, the deals abound as long as you know where to find them. Happy Holidays and Happy Shopping!