Walmart, others cut TV prices in Super Bowl run-up
From Reuters US Online Report Business News | 2010-01-29 22:41:55
<div><p>SAN FRANCISCO (Reuters) - Wal-Mart Stores Inc is cutting prices on high-definition TVs ahead of the U.S. Super Bowl championship game, looking to entice shoppers to spend now that the holiday season has ended.</p><p>In its U.S. Walmart stores, the discounter is also getting more vocal about promoting its in-home TV installation service, an offering that it said is helping shoppers become more comfortable buying larger, and often more expensive, TVs.</p><p>"We do know that there are customers who are not all do-it-yourself type customers, they do want professional help for installation," said Alex Cook, senior category director for consumer electronics at Walmart U.S.</p><p>Starting on Sunday, Walmart is cutting prices on select high definition TVs by $30 to $300. It will offer a Vizio 55-inch 1080p LCD TV for $1,298, or $200 off; a Sony Bravia 46-inch 1080p LCD TV for $778, or $300 off; and a Vizio 32-inch 720p LCD TV for $368, marked down by $30.</p><p>Electronics retailers typically roll out discounts ahead of the Super Bowl to entice shoppers to buy a new TV to watch the game. This year, the National Football League's Super Bowl is being played on February 7.</p><p>Sears has launched an ad campaign featuring Minnesota Vikings quarterback Brett Favre, and on its Website it is offering 5 percent off LCD TVs $499 and over.</p><p>Best Buy Co Inc is cutting prices on TVs, offering a Samsung 46-inch 1080p LCD high-definition TV for $1,599.99, a price cut of $900. It is also promoting its Geek Squad TV installation service.</p><p>In a playful twist, Target Corp is promoting Super Valenbowl -- a celebration of the Super Bowl and Valentine's Day. For the event, it is highlighting low TV prices and touting its home delivery and installation services.</p><p>U.S. retailers just completed a better-than-expected holiday sales season. Holiday retail sales rose 1.1 percent in 2009, according to the National Retail Federation, beating its own forecast for a 1 percent drop in sales for the November-December period.</p><p>The question now is whether that momentum will continue into 2010. Many electronics retailers offered rock bottom prices on TVs during the holiday season -- prices lower than many of those now advertised for the Super Bowl.</p><p>Cook said Walmart knows customers are watching their discretionary spending, which is one reason it is highlighting the new price cuts for the Super Bowl.</p><p>(Reporting by Nicole Maestri; Editing by Gary Hill)</p><img src="http://admatch-syndication.mochila.com/images/ad.gif?aid=68055729&bid=informcom" /></div><div id="copyright"><div>
Copyright 2010 <a href="http://www.reuters.com/finance">Reuters US Online Report Business News</a></div></div>
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