Big retailers give way to thriftier buying

Kuala Lumpur News.Net
Sunday 11th January, 2009

Retailers in the US have had their worst Christmas sales in four decades.

Stores have reported that consumers drastically cut back on spending in December, even though the holiday period normally accounts for about one-third of retailers' annual sales.

But while most large retailers are complaining, business has begun to boom at the smaller, and cheaper, thrift stores.

While most retailers are in the grip of declining sales, thrift stores are projecting a rise in retail store sales.

There have been forecasts of thrift store sales rising five percent in 2009.

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