Rolex Recession at Somerset Collection deedsphotos
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I had an errand near the Somerset Collection mall this morning and grabbed my camera as I went out the door. The Christmas decorations at Somerset are going up although Thanksgiving is two weeks away. Unemployment in Michigan is more than 15%, and some say it's headed for 20%. The pictures below were taken on the upscale side of the mall where sales people out-numbered buyers. 11-13-09 deedsphotos
11-10-09 Several weeks ago I took some pictures on the proletarian side of Somerset Collection where there were 40-70 percent discount signs at nearly every store and couple of bankruptcy fire sales in progress. When I took the pictures for this hub on the richistan side I wondered why I didn't see similar fire sale signs. Well, I found the answer in this morning's New York Times. (artilce linked below). Saks Fifth Avenue and other upscale merchants have decided to try to wean their clientele away from expectations of huge discounts. They have reduced their store inventories and claim they have no plans for big end-of-the-year discounts.
Upscale Merchants Cutting Back on Discounts this Year
- Luxury Stores Trim Inventory and Discounts
Upscale stores want to train the customer that luxury equals exclusivity and that they cannot assume they can wait and theyre able to buy it on sale, said William S. Taubman, chief operating officer of Taubman Centers, a mall developer and owner.
Recession Toll in Grosse Pointe
- Poor Grosse Pointe from megang - Video
Megan exposes the state of the economy in Grosse Pointe, MI ... Watch videos about Grosse Pointe, The State, Megan Grano, economy, Detroit, comedy, GM, bankruptcy, Chrysler on FunnyOrDie.com
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Comments
I think they're in tough shape in Michigan. There are several vacant stores in the mall. The economic pain is gradually spreading outward from the automobile companies to the state, the counties and the cities whose budgets are in deficit and their pension and health care commitments to retirees are in trouble.
Great photos by the way. Scary times when the upscale side of the mall has that few shoppers!
Wow! An eye opener to say the least! Kartika
Dear Ralph,
Your pictures are better than a thousand words. When will this end and how?
The rich are rich for a reason, they can stick it to the poor. While you were out did you happen to ask the clerks what kind of health insurance they had, or where you could buy same?
I did like the photo of the naked angel.
Thanks to everyone for the kind comments.
We seem to be seeing more stores closing all the time
We sure are in Michigan. More foreclosures also.
I just wonder if we are getting store overloads. How many stores do we actually need? I still love Sears!
Me too! I bought a couple of pairs of khakis on sale at Sears last week.
Have you noticed the contrast between the Apple Store at the Mall and all of the others? They have lines and people have to make appointments to buy their products.
I hope Apple takes over the world--if only because they get it and know what they're doing.
Interesting observation, Robert. I'll see if I can find an Apple store on the other side of the mall and add a picture of it. Thanks and best regards.
hi ralph,
i agree with r. dente on the apple stores. unbelievable. their business plan is in full swing. of course, that "one to one" teaching program is even more unbelievable. they deserve the business.
looks like the chocolate shop is doing okay there!
I have been meaning to ask, what is all this I hear about GM opening a new plant in Delaware? Couldn't they have reopened plants in Michigan, instead? Some say this a Joe Biden deal?
Keep on hubbing!
GM re-opened an old assembly plant in Delaware. Joe Biden deal? I hadn't heard that, but politics is politics.
Not quite as extravagant a display as past years...Oh well.
NYTimes 11-18-09 After a brutal year in which the nation’s luxury retailers were forced to offer their wares at stunning discounts, they are trying to get their magic back. And they may have found a way: deliberately running low on merchandise.
Saks, the chic Manhattan department store, is a prime example. Its inventory is down by double digits compared with last year. That is partly a response to lower demand, of course, but it is also a business strategy aimed at weaning consumers from deep discounts. By carrying fewer goods and selling them at full price, Saks is essentially telling customers: buy it now or live without it.
eovery says:
6 weeks ago
So how are the high businesses staying in business there in Michigan?
Keep on Hubbing!