Saturday, Nov 29, 2008
Better read this - before - you do your xmas shopping!
Assoc. Press NPR: For stores, the holiday season may already be over
Major department stores and mall-based chains have cut prices up to 70 percent to move out mounds of excess inventory stuck in the pipeline since the financial crisis hit in September and people snapped their wallets shut.
Big moves of merchandise happen every year — but usually after Christmas. This year stores are desperate to shed inventory even before Thanksgiving.
At warehouses operated by Liquidity Services Inc., a leading online auction company for surplus goods, there are rows and rows of pallets of offloaded merchandise ranging from jewelry to consumer electronics.
"This is about survival. This is not about muddling through the holiday season,"
Posted by malct @ 12:59 PM (486 views) Add Comment
3 Comments
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1. paul said...
I think this might be the start of the deflationary spiral.
How might the BoE be able to print money to get out of this? The appetite for credit is gone. I don't really understand ...
2. plato said...
The Last Temptation perhaps!
3. fjcruiser said...
I d love to find a discounted price wii. Cant seem to find any yet, ebay or high street!