"'You walk the mall and consumers look like zombies,' said Morris, after visiting a mall last week. 'They’re there in person, but not in spirit.' Sales at luxury department store Neiman Marcus dropped nearly 28 percent in October compared with the same month last year, while sales fell 16 percent at Gap and nearly that much at Nordstrom, according to the report.
The picture is not bleak for all retailers. Deep discounters like Wal-Mart and BJ’s Wholesale Club reported gains, the report stated."
The headline says "all levels of retail," yet Wal-Mart and BJ's reported gains. Industry rag that it is, Convenience Store News goes for the gloomy panic angle and misses the bigger story: Consumers are flocking to lower prices and fewer purchases. The retail strategy there is to equate low-price value with convenient shopping. That IS the title of the stupid magazine, right?
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