Stores going to great lengths to lure back shoppers

01.21.09
By Nicholas Storie

The average American is probably more likely to be thinking about paying off credit card debt than shopping for new purchases right now.

But the country's retail sector is aiming to change that. According to a report by the Associated Press, retailers are going on their best behavior to attract shoppers back to their stores after facing dire sales figures from the end of 2008.

These companies are bending over backward to improve quality, streamline operations, hold special events and boost customer service and satisfaction levels, the article states.

Perhaps most importantly, some chains are re-pricing some inventory to appeal to budget-minded shoppers.

"We are in a sea change," J Crew CEO Millard Drexler told the news provider. One of the challenges for retailers is that consumers have gotten used to deep discounts and deals, even on high-end merchandise.

Industry experts are wondering whether shoppers' change in behavior is temporary or will have a lasting effect on sales.

In such an economic climate, it could truly be a buyers' market - at least, for those shoppers whose financial situation is still in good shape.

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Malls are noticeably emptier these days