POST-HOLIDAY SHOPPERS MIGHT NOT GET THEIR WISH RETAILERS FEATURING FEWER MARKDOWNS, MORE NEW ITEMS.

Byline: Brent Hopkins Staff Writer

Shoppers on the hunt today for big bargains after Christmas might find fewer heavily discounted items than usual and more new merchandise.

After several tough years for retailers, stores have kept inventories leaner than normal and shoppers likely will have to spend more time pawing through merchandise to find the bargains they've grown used to at day- after-Christmas sales.

``People will go tripping into the stores expecting to find bargains, but they may be somewhat disappointed,'' said Jack Kyser, chief economist for the Los Angeles County Economic Development Corp. ``The retailers say they're managing their inventories more strategically, but what that means for the shopper is there won't be as many markdowns.''

While there are some sales to be found, retailers largely avoided ordering the low-margin promotional items that can get them in trouble in a slow period. They are well-stocked, however in strong-moving, high-ticket items such as plasma-screen televisions and DVD players. With an improving economy, chain operators can afford to keep discounts low, figuring that they can still sell their merchandise after the holiday period ends, without resorting to markdowns.

``They still seem stuffed to the gills with merchandise,'' Kyser said. ``The question is how anxious will they be to get rid of it?''

Further complicating things, retail experts expect some chains to bring out new merchandise today to take advantage of shoppers' gift cards. The cards, which have skyrocketed in popularity in recent years, have monkey-wrenched many economists' sales projections for the year. Since their value isn't reflected until they're exchanged for merchandise, retailers could have billions of dollars floating in limbo, already banked but not yet redeemed.

The current plan of introducing new goods late in the season aims to spur redemption on a day when many shoppers take to the mall out of habit.

``They're not going to get any discounts on the new lines,'' said Richard Giss, a partner of consumer business at Deloitte's Los Angeles office. ``There will be a lot of promotional activity, but that will be on end-of-the-season items. They have been very cautious, so I wouldn't expect to see huge amounts of inventory, just huge amounts of advertising. When you get to the stores, you'll see what's really there.''

Given that the holiday season has disappointed most experts, a little last-minute sizzle could provide a boost for retailers who aren't yet making their projected sales numbers. Clearance sales tend to be money-losers for stores, so the sudden addition of higher-priced goods, snapped up by gift-card holders who tend to be less price-sensitive, are a positive factor at a time when the retail sector is being battered.

Brent Hopkins, [phone]

brent.hopkins(at)dailynews.com

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SOURCE: Daily News research