Grey Thursday to Undercut Cyber Monday: Elwood

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Nov. 13 (Bloomberg) -- Mark Elwood, author of “Bargain Fever,” talks with Betty Liu about Kmart’s new rent-to-own program, how stores opening on Thanksgiving will hurt Cyber Monday more than Black Friday and why retailers are embracing “showrooming” of products in their stores. He speaks on Bloomberg Television’s “In The Loop.”

Idiotic thing you can do as a retailer today.

I am speechless.

But the white?

It is -- but why?

It makes money.

In my book i talk about how important it is to offer discounts.

You think it will backfire?

It is the anti-discount.

Why would people shop at kmart?

I think there is a trust it is breaking.

Because of there are so many stores selling so much stuff, we are in position as a shopper and we want to build trust and loved by the stores.

This is not a kind of move.

As you described it and we have a picture here of something you have described as the state of shopping in the united states, all of our shoppers alike the bachelorette.

We are like the 2013 bachelorette that is being wooed by target and macy's with the discounts.

Are they really losing -- other retailers really losing out?

The retailers are not losing out.

Since 1980's, brick and mortar hasn't spent a fortune percent a year.

The population has expanded by just under one percent.

There are too many sellers and not enough buyers stop that are finding ways to give us a discount as protected their stock.

What is interesting is you can see the competition a playing out on black friday which now is less of a black friday.

What's it is great thursday.

-- it is gray thursday.

Black friday is still a massive deal.

The retailers who are opening of their brick-and-mortar stores on thursday like kmart and macy's tom a they are doing one thing.

Anybody was not open in the mall, they are going to change on a line.

It allows sales on thursday.

It'll be interesting to see how much might create the sales on monday.

You said cyber monday might disappear?

I think it will dwindle.

Quick shell ruling is another big issue.

We were showing that -- showr ooming is another big issue.

-- we were showing that.

You think they should embrace this.

We are in a bargain world.

All of the shoppers hold the subway.

Go ahead and check out prices.

It is looking pretty good if you beat the price.

Target, as by -- they're offering price match.

You can go online and say it is cheaper here.

They realized that my enemy is my friend.

They are circling the wagon around amazon and saying fine, you think you can beat us?

It is nothing that beats and being able to buy the private right there.

Walmart has done that were used to shop online and save -- as they have in my local store.

Who do you think is getting -- who are firing on all cylinders?

I do not want to be repetitive but best buy is finally showing the way forward for any retailer and saying go ahead, they have free wi-fi and during the customer to check those that we would love you to do that.

That means they trust the customer.

Facing the problem head-on.

Mark, thank you so much.

Coming up, the most profitable company announced it will spend 10.5 billion dollars of new technology that most will never see -- apple and a spending spree.

Wow more in a moment.


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