Wednesday, April 15, 2009
higher sales requires discounted merchandise.
The recession has affected the economy in different areas. One of those specific areas consist of home and fashion retail. A survey was conducted over the internet to determine how the economic crisis is affecting the retail business. According to this survey 54% said they would not be making any discretionary purchases through this recession and 63% said they would not make any purchases unless there was some type of deal or bargain attached. The results of the survey suggest that consumers will cut budgets and will only spend when there is some type of deal. Since coupons are a household staple-86% of Americans have used coupons are discount deals while shopping. 37% said they will increase the use of coupons while shopping. During the recession, the survey concluded that people are less likely to look at catalogs, television commercials, etc. It has left retailers with the conclusion of keeping there loyal employees by giving discounted merchandise and this is said to help boost sales.
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