Holidays
For some, Playstation 3 release worth braving the elements
By Joseph Gidjunis
Staff Writer
SALISBURY -- The holiday shopping season kicked off this week when dozens of consumers with a need for the must-have-the-coolest-thing braved torrential downpours and a tornado warning for a $500 to $600 toy. It's another $60 for a single game.
After a two-time delay, Sony Corp.'s Playstation 3 officially went on sale this morning, but only to shoppers with the patience to sleep in chairs, tents and other makeshift abodes. At most local retailers, only a handful of the popular new gaming systems were available. eBest Buy in north Salisbury claimed to have 26. The Circuit City across the street said eight are for sale. Sony said 400,000 will be imported nationwide.
Those risking their safety, however, weren't the stereotypical pimple-faced loner male teenager. It was young adults in their 20s, parents in their 40s and entrepreneurs betting on a massive profit from an eBay sale. The giant online auctioneer declared PS3 the "IT" of the day Thursday, and one PS3 was reportedly sold for $30,300; however, the legitimacy of the bid could not be confirmed. Most other systems were selling in the $2,000 to $3,000 range.
"I'm going to make a profit on eBay," said Daniel Veith, 23, of Salisbury. Veith showed up at 3 p.m. Wednesday with a chair and a bag of food at Circuit City so he could claim his throne beneath a red and black sign declaring the start of the Playstation 3 line. "There is such a lack in supply and such a great demand."
Holiday shopping forecast
The hype and fanaticism for the entertainment gear more than a week before the recognized start of the holiday shopping season on Black Friday is another example of retailers' attempts to extend holiday shopping for larger fourth-quarter profits. Analysts are predicting anywhere from 4.5 percent to 6.5 percent sales growth over 2005 levels.
"Sales will be stimulated by low unemployment, greater consumer confidence, declines in energy prices from the record highs earlier this year and recent gains in the bond and stock markets," said Jay McIntosh, director of consumer products for the Chicago-based Ernst & Young. "Consumer electronics is anticipated to be the hottest category this holiday season with many new variations on DVDs, iPods and accessories, mobile phones, digital cameras, photo printers and thin-screened and high-definition TVs."
Adding to predictions of consumer confidence is growth in disposable income, and since December is a three-Friday month, those employees receiving biweekly paychecks may have the perception of more purchasing power. "It certainly couldn't be anything but good," McIntosh said. "It certainly would have to be a positive."
Reports by credit card firms were mixed. VISA USA said holiday sales are expected to grow by 7.5 percent. But a survey of 1,000 people by Consolidated Credit Counseling Services Inc. said three out of five consumers plan on spending less than last year. Those polled said their cutbacks are due to carrying too much debt or the increased cost of living. McIntosh also acknowledged concern in the housing market since home starts are down in many states.
High energy prices have made Nicholas and Patricia Colletti rethink their holiday spending.
"We're actually going to scale back gift-wise," Nicholas Colletti said. "With the cost of living going up so much, especially this year, we came up with that consensus with everyone. Most of us don't have as much to give as we had in the past."
Even with their 3 1/2-year-old, Aiden, the Collettis' new philosophy is to spread out gifts throughout the year, put some more into savings for Aiden and rely on grandparents to spoil the baby. They still plan to buy one big gift, and a few smaller ones, but the Collettis said it's more important to "hang out" rather than purchase too much.
