NY retailers hawk marked-down merchandise amid feeble Jingle Bell

Special Report:Global Financial Crisis

by Xinhua writer Wang Jiangang

NEW YORK, Dec. 23 (Xinhua) -- Joanna Lee hates to rise early in the cold winter, but on this past Saturday, she tried hard to persuade herself to get up as early as possible so as to grab as many marked-down merchandise as possible at Macy's.

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Macy'sintheWoodfieldShoppingMallinSchaumburg,Illinois,
Tuesday,Dec.23,2008.(APPhoto/PaulBeaty)

To lure more shoppers, the flagship store of Macy's, a chain of mid-range American department stores in Herald Square of Manhattan, opened as early as 6 a.m. Saturday and offered "door-busting," with markdowns as high as 60 percent along with coupon deals.

"It has saved me almost 200 dollars by rising 3 hours earlier than normal," said the 26-year-old PR manager of a small entertainment company, adding it was really a "bargain" worth her time and energy.

"It's our last one day sale before Christmas," announced Macy's in a full-page ad that ran in many U.S. newspapers, accompanied by a 10-dollar coupon. The department store chain even kept its doors open 24 hours at some East Coast locations.

On the third floor of the flagship store, discount signs seemed even more "eye-catching" these days than the merchandise. In the men's suits section, many were on sale at a discount rate as high as 50 percent, some even 60 percent. A Calvin Klein suit was registered at 350 dollars, but was now 189.99 dollars only; another DKNY suit was registered 400 dollars, but was now 239.99 dollars. Furthermore, the store offers an additional 15 percent discount if customers open an account at Macy's.

On the main page of the Macy's website, this giant retailer of the United States offered even steeper discounts: jewelry, 20 percent to 50 percent with an additional discount rate of 15 percent; sweaters, 50 percent to 60 percent discount; boots, 40 percent to 50 percent...

"Our business is not good now," a middle-aged saleslady told Xinhua. "Customers are very picky and cautious on their spending, so retailers have to slash a lot off so as to woo more customers."

"Sale! Big sale! We offer 85 percent discount," shrieked a young black man on the Sixth Avenue of Manhattan while passing out flyers to passers-by.