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Article: Attention, NYC shoppers: big recession sales! Shops, service firms slash prices, offer special deals to bring in customers.(The Crisis Continues)
- Article from:
- Crain's New York Business
- Article date:
- September 29, 2008
- Author:
CopyrightCOPYRIGHT 2008 Crain Communications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Amanda Fung And Adrianne Pasquarelli
Five days after Wall Street imploded, hastily printed signs appeared in the store window of Hollywood Tans on Third Avenue at East 26th Street, advertising a "Recession Special.'' The offer: an 11-minute tan for a $5, or about 60% off the shop's regular $12 price.
It's the biggest discount the five-year-old franchise has ever offered to coax pasty New Yorkers into its UV-ray booths.
"Right now, there's a slowdown in business,'' says Store Manager Chris Hemery. "We have specials on pretty much everything in the store, but that's the big seller.''
Buoyed by European tourists and wealthy Wall ...