After sales, will shoppers pay full price again?
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Associated Press
Published: January 7, 2009
NEW YORK (AP) - Consumers are now used to the steep discounts offered by stores to boost sales during the recession-ruined holiday season.
Now, retailers are wondering when shoppers will again pay full price for merchandise.
Anxieties about how rampant discounts have affected shoppers’ psyches and stores’ profits are running high ahead of expected dismal December sales figures on Thursday.
Merchants worry they’ll also have to quickly slash prices on spring goods to attract customers. Already, some retailers are cutting prices on selected spring styles to lure sale-savvy shoppers.
The chairman of an investment banking firm specializing in retailing says “It is a vicious cycle that no one wants to continue.“ In addition, retailers expect competition from a rise in liquidation sales.
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