And, of course, people won't be buying until things hit 80% off, leading to deflation.Considering Saks did a brief 70% off a month ago, I think we're definitely looking at 70-80% in January.
Having said that, retailers aren't totally stupid - this Christmas was forecast to be bad and so they reduced stock orders/levels in the run-up. The fact it's turned out even WORSE than those predictions is worrying, but not totally unexpected given the rate of the downturn.
Still, 80% off will be what I will be shooting for in the sales.
Don't you love self-fulfilling prophecies?
This is true, of course. But that's what happens in recessions, and why economies are fundamentally cyclical in nature.
Anyway, I scored over 90% off on a couple of pairs of trousers today.
