Home / Knowledge / News / Apparel/Garments / Retailers lower prices to survive crisis bite
Retailers lower prices to survive crisis bite
29
Jun '09
Retail giants like Macy's Saks Inc., Nordstrom, TJX and J.C. Penny are suffering serious contraction in their sales, due to the twinge of global crisis. This has resulted in a number of headcount reductions across a deteriorated US retail sector.

Luxury retailers such as Nordstrom are offering lower initial prices, while Coach and Macy's is promoting its everyday value collections by lowering its prices.

Liz Dunn, analyst at Thomas Weisel Partners says, "Heavy discounting has driven consumers to stores but retailers might not be very pleased with this equation, they would prefer to get inventory in line and under control.”

She also adds by saying, “Good customer service plays second fiddle when purse strings are so tight in the first place.”Service isn't going to win sales at this point.

There is more interest in service when economic times are good, but right now value is outweighing service”.

Due to the prolonged woes of recession, reduction in the capital expenditure is also followed by the companies through cost cutting measures like store closure, layoffs, and salary caps.

But sadly, the return in revenues that would restore some much-needed cheer is not being entertained in the gloomy outlook of department store retailers.

Click here to read the complete article.

Fibre2fashion News Desk - India


Must ReadView All

Courtesy: Nine West

Fashion | On 17th Jun 2018

ABG wins bid in Nine West Holdings auction

Authentic Brands Group (ABG), owner of a global portfolio of...

Courtesy: Kreussler

Textiles | On 17th Jun 2018

USDA certifies Kreussler's solvent as biobased

The US Department of Agriculture (USDA) has certified Kreussler's...

Courtesy: ITUC

Textiles | On 17th Jun 2018

Democratic space shrink & corporate greed are rising: ITUC

Shrinking democratic space for working people and unchecked corporate ...

Interviews View All

Amit Jain
Shingora Textiles Ltd

‘In terms of fabric, the fastest growing category for us is a blend of...

Rahul Bhadani
Looksgud

Navigating through catalogues is a bit hasslesome

Smith Vaghasia
Sanado India

Online remains the best destination for shopping

Harsh Shah

Established in 1956 with a small beginning, Embee today manufactures a...

Mala Alwani

<div>Delhi-based fast fashion womenswear brand, Besiva, aims to bridge the ...

Hardik Sanghvi

Idealin Fogging Systems has been engaged in designing and manufacturing...

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Aditi Somani
Aditi Somani

Aditi Somani specialises in luxury fusion wear with international cuts and ...

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Sidharth Sinha
Sidharth Sinha

<b>Sidharth Sinha</b> has contributed to the successful rebirth and...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


June 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Advanced Search