Warehouse chain Costco (COST) and department store J.C. Penney (JCP) are executing two different strategies to lure customers in this holiday season. According to the National Retail Federation, the number of consumers that started their holiday spending in early November increased to 57%, compared to 54% in 2014 and less than half in 2008. ‘You are going to see a number of retailers, and I think notably, really try to get out in front of the holiday season and try to gain as much market share as they can by being very aggressive early in the holiday,’ said Bryan Gildenberg, chief knowledge officer, Kantar Retail. That’s why Costco started their holiday sales as early as Nov. 20 and ending on Nov. 29. ‘You don’t have everybody running through the door, crashing down, fighting over one item, it’s spread out,’ said Robert Coope, Costco Warehouse Manager. Costco’s strategy is to focus pre-Thanksgiving sales, while offering additional sales on Black Friday and after to allow customers to spread out their shopping. J.C. Penney’s also started special discounts before Thanksgiving, but the retailer is looking to draw customers through their Thanksgiving and Black Friday special discounts ending at 2:00 p.m. Friday. TheStreet’s Valerie Young reports.
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