Rolex Recession at Somerset Collection deedsphotos
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