Streams

Discounts Greet Shoppers As Christmas Nears

Sunday, December 09, 2012

With Hanukkah already underway, and Christmas just 17 days away, the streets of Manhattan are filling with shoppers.

And many retailers are already marking down their goods.

Shaun Rowan, an executive fragrance company, picked up some cufflinks at Bloomingdale's at a 70 percent discount.

“I was looking for Christmas ideas but I ended up buying something for myself though,” Rowe said. “It'll be under the tree.”

Wendy Liebmann, founder of WSL Strategic Retail, said the discounting is particularly noteworthy at higher end stores including Barneys and Saks. She believes fears about the so-called "fiscal cliff" may be leading wealthier customers to be more cautious about spending.

“They're the ones who are saying, ‘Oh gee, I'm gonna be the most impacted. So unless it's a great deal, I don’t need to do this right now,’” Liebmann said.

The National Retail Federation predicts shoppers will spend an average of $750 on gifts this season, about ten dollars more than last year.

Tags:

More in:

The Morning Brief

Enter your email address and we’ll send you our top 5 stories every day, plus breaking news and weather.

Leave a Comment

Email addresses are required but never displayed.

Sponsored

Latest Newscast

 

 

Support

WNYC is supported by the Charles H. Revson Foundation: Because a great city needs an informed and engaged public

Feeds

Supported by