A Change in Consumer Attitudes
The New York Times article, “Bargain Draws Crowds, but the Thrill is Gone,” by Michael Barbaro, described the change in the attitudes of consumers on Black Friday this year compared to past years. Although the sales increased by 5 percent (to 20 billion from about 19.1 billion in 2006), more money was spent on discounted items then in past years. While in better economic times consumers shopped at higher priced stores such as Macy’s, Abercrombie and Fitch, and Nordstrom, this year more money was spent at bargain stores including Wal-mart, Target, and Big Lots. A few consumers interviewed were almost embarrassed and upset that they were obligated to shop in these types of stores. One woman actually stated that she was embarrassed to be seen at Big Lots. It seemed that this year Black Friday was more about desperation, rather then celebration.
The current explanation for this decrease in money spent by consumers is an unstable economy.......
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Approximate Pages: 2 (260 words per double-spaced page) |