Retailers, consumers and prices
Recession Sells: Slashing prices, outlet-style
Outlet malls are known for their low prices, but the discounts being offered this weekend at Woodbury Common Premium Outlets in Central Valley NY, roughly 45 miles north of Manhattan, were truly eye-popping.
From Geoffrey Beene to Izod to Van Heusen, store windows were plastered with signs offering 40 to 60 to 75 percent off:
The discounts were not limited to mid-tier stores. While upscale retailers may not have covered their windows with clearance signs, the extent of the markdowns were evident after walking in the doors. Kenneth Cole was offering 30 percent off everything in its store, while Saks was offering similar deals. Here is a glimpse inside the Saks Fifth Avenue OFF 5TH store.
And here is a look inside the Neiman Marcus Last Call:
By the end of the day, I felt like I was getting ripped off if a retailer was only offering me 20 percent off.
And pay full (outlet) prices? You’ve got to be kidding.
(Photos: Taken by Nicole Maestri at Woodbury Common Dec 13)