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Retailers offer big discounts to save Christmas as New York strike ends
24 Dec '05
1 min read
A three-day public transport strike ended at the streets of New York on Thursday making retailers desperate to make up for lost sales and save the holiday shopping season.
The illegal strike under New York state law was called off with the subway and buses due to resume on Friday morning but the Transit Workers Union warned it may take up to 18 hours or more to get the network running again.
The most affected businesses were restaurants, small specialty shops and larger retailers. Some industry experts believe they have lost some $250 million per day.
A consortium of 200 of the city's major companies, Kathryn Wylde, the head of the Partnership for New York, believes that big stores have lost $60 million a day.
Analysts from Retail expert's show that many retailers will try to attract customers back into stores by offering bigger discounts and promotions than planned.
The illegal strike under New York state law was called off with the subway and buses due to resume on Friday morning but the Transit Workers Union warned it may take up to 18 hours or more to get the network running again.
The most affected businesses were restaurants, small specialty shops and larger retailers. Some industry experts believe they have lost some $250 million per day.
A consortium of 200 of the city's major companies, Kathryn Wylde, the head of the Partnership for New York, believes that big stores have lost $60 million a day.
Analysts from Retail expert's show that many retailers will try to attract customers back into stores by offering bigger discounts and promotions than planned.
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