A survey of major-appliance retailers by Longbow Research found the sales of major appliances during the Thanksgiving holiday weekend were "remarkably strong," according to a statement from the research company.
More than 85% of the responding retailers said their major appliances sales "met or exceeded sales expectations for the Thanksgiving weekend," said David MacGregor, a Longbow Research analyst. "In some cases, contacts indicated that sales were as much as twice their expectations," MacGregor added. He attributed the boost to aggressive promotions and extended warranties, the latter of which also pushed up the margins on these sales.
The feedback from store-level employees to Longbow Research suggested that shoppers stayed close to the bargains, which were priced at break-even levels or even lower. "Where we believe retailers managed to extract a profit was from aggressive sales of extended-warranty programs," MacGregor said.
to Daily News