Sale, sale, sale
The sales in NYC are incredible. 40-70% everywhere. What is more amazing is that everything is marked down so low and nobody is in the stores. Is there a magic number? I am not so sure.
The chatter from the media about the economy is all over the place. Certainly getting a new President on January 20th couldn't have come any sooner. It will certainly be interesting to watch the change in atmosphere in the country after the 20th. The thrill on November 4th poured on to the street only to watch things continue to slide down hill on November 5th. I hope that this is different as it certainly will be over time but maybe not on January 21st.
My guess is that the stores will move their stuff out, bring it down to 90% at one point. The cruise and early spring in the stores will also be marked down eventually. It will take until April/May, when the thaw comes, that people feel a need to start buying again.
I could be totally off the mark but it is just my gut. I have no desire to really buy anything unless it is a must have and will be with me for years to come. I haven't even hit up the stores.
It should be a very interesting first quarter.
Comments (Archived):
Your guess is right on, DKNY’s flagship store on Madison Avenue at 60th Street is offering “up to 90% off.”
Why is no one buying when sale prices are at 90%? The reason is quite simple and indicting. We have overconsumed and overindulged for almost a decade. Our homes are overflowing with electronic gadgets, kitchen appliances, clothing, furniture, etc. There is nothing we “need” anymore except for food and basic living necessities. We don’t have the physical, psychic, emotional or economic capacity to consume anymore. While in many ways the end of our cosumption binge is exceedingly healthy and necessary it also is frightening beyond words. Our economy and our way of life is largely driven by consumer spending. The main reason I believe we are in for a lengthy recession is that we have entered a new phase or era of post-consumerism, which is the precursor to deflation, productivity loss and massive unemployment. So, the real question is: are we obliged to buy that lemon juicer on sale at Williams Sonoma to propel the economy even though I have absolutely no need or want for it? Hmmm.
I couldn¹t agree with you more.