Wednesday, November 16, 2011
Shop 'Til You Drop? Only If You're the 1%
Retailers See a Split in the Behavior of Shoppers. (The New York Times, 11/16/2011)
Excerpt: At Wal-Mart, shoppers cut back on staples like milk and meat that had price increases of a few cents. At Saks Fifth Avenue, they paid full price for shoes and designer fashions at a rate higher than before the recession.
As several big chains reported third-quarter results on Tuesday, the divide between hard-pressed and prosperous Americans remained a defining characteristic of the retail economy.