According to a survey conducted by an economic research agency, consumer purchases are
An increase in the unemployment rate, expectations of mark-downs, and consumer
were all considered as possible causes for the survey results.
Retailers are attempting to deal with poor sales in a variety of ways. One major department store, Milky Way, had sales with prices
five times in the past three months.
Milky Way General Manager Robert Doyle said, "Consumers are looking at prices carefully. Most customers are
prices to go down during the end of summer sales."
Another major department store, Gloria Way, is going to give $10 gift certificates to customers who make purchases of more than $100 this weekend.
by giving gift certificates because receiving $10 gift certificates by buying something of more than $100 means in effect, the customer gets $10 off the marked price. "This is especially attractive because the sales promotion applies to not only regularly priced goods, but also those on sale," a Gloria Way clerk said.
The assistant manager at Gloria Way added, "The answer to the question of whether or not this sales promotion will
is very simple. You never know before you try it. We can't just sit around. We have to do something. I'm not too
, but I hope it will
The principle of "buy low and sell high" is no longer
in practice. It has turned into "buy cheaper and sell cheap".
Standing on the street and watching the stream of people that passes by, it's hard to imagine that a price war like we've never seen is just about to
, but that is just what consumers have to look forward to.
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