As hurricane Rita approaches the Gulf Coast, oil prices are again on the rise. With gas nearly $3 per gallon, consumers will have much less to spend this holiday season. According to reports from the National Retail Federation and consulting company Ernst & Young, retailers are likely to mark down prices earlier this year to attract cost-conscious consumers and beat the effects of winter heating oil costs. Similarly, analysts suggest that holiday advertising will start as early as next month.
This holiday season, retailers are likely to cut margins not marketing.
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