Customers are being just as protective with their gift cards as they were with their own money when buying Christmas gifts. The idea of free money is all in the past. They want value or something very special.

The closer you get to Christmas, there's this mentality on the part of consumers where they're willing to go out just a little bit more to get the even bigger discounts.

More Americans are waiting to the end to shop for Christmas than any other time in the last 10 years. The consumer was never excited about anything that they saw this Christmas.

I think that Wal-Mart has come to the realization that it cannot be focused on low-prices alone. They need a broader offering.

Over the last couple years, chains have tried to do something different -- they're trying to give consumers a different look, a different style.

Back to school is a very important season for retailers because it's one chance in the year when retailers get a shot at parents and kids at the same time. Historically, sports figures have been the big players; now it's a different breed of endorsers taking over.