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Navigation Primary Navigation Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular Secondary Navigation Asia Pacific World Search Search: In a crisis, even discounters give discounts AFP - Saturday, December 13 NEW YORK (AFP) - - Suddenly, even an old-fashioned discount doesn't look like such a good deal. A string of New York stores used to stand out with their ridiculously good bargains on high-end fashion. But as the economic crisis bites here and around the world, even these consumer paradises are discovering tough times. The most famous of such stores is Century 21, a stone's throw from the site of the September 11, 2001 attacks at the southern tip of Manhattan, with four floors of everything from jeans to shower curtains at cut-rates. From early morning Thursday the complex buzzed with a crowd comprised mostly of foreigners filling red plastic shopping carts with shoes, shirts and scarves. Tomo, 33, from Tokyo, said the deals were still too good to resist. "The yen is strong, so I buy much better than in Japan. This Polo Ralph Lauren boxer shorts which cost 9.99 would cost around 30 dollars in Japan," he said. "I cannot find my favorite brand for pants. I will go to Barney's and pay more but still less than in Tokyo," added Tomo, a graphic artist who says he visits New York annually to stock up his wardrobe. Century 21 may still be cheaper than typical outlets, but it has to work harder these days to persuade people that it is cheap enough. Posters plaster the walls boasting of price differences and extra discounts. For example a four-piece pack of Lancome cosmetics "was 80 dollars, now 72.50 dollars, value 109 dollars." Other fashion-conscious discount chains -- Daffy's, Syms, Filene's Basement, and Designer Shoe Warehouse -- compete with Century 21 in the market for surplus luxury goods. Yet their margin is fading as regular stores, even the most luxurious retailers, slash prices with desperate sales of 50, even 70 percent through the key pre-Christmas shopping season. Laura Marrocolla, a saleswoman at Century 21 for the last decade, conceded that the discount world was suffering. "The store is busy but less than last year. The euro is down a little. Usually it is packed from the morning, but not this year, although this is Christmas period," she said. There are relatively few Americans in such shops, which have been havens for foreigners taking advantage of a weak dollar. But now as the dollar climbs that too is changing, prompting tourists to spend less. The crisis has also impacted on ritzy second hand stores where demand has dropped and supply is rising. One of the fanciest chains, Ina, sells Chanel handbags at 1,600 dollars, a huge discount off the newly bought price. Mink jackets sell for 4,000 dollars. But still hardly anyone is buying. At Ina's Prince Street outlet customers browsed without making purchases and the manager could be heard negotiating with someone proposing to sell goods. "You want 75 percent of the sale? No, here it's 50-50," she said to a woman attempting to sell her jewels at the store. At Tokyo 7 -- a treasure trove of Gucci skirts at 250 dollars and Valentino dresses at 160 dollars -- a young woman was trying to unload a pair of boots that had originally cost her 1,200 dollars. "Propose a price," the shop representative said. When the would-be seller asked for 800 dollars, the shop representative gasped. "You must be kidding. You can find brand new ones on sale for half the price! I can try to sell them for 200 dollars, 100 for you, 100 for me." The woman with the boots finally accepted the conditions. "I have no choice. I need money," she said. Email Story IM Story Printable View Blog This Recommend this article Average (0 votes) Sign in to recommend this article » Most Recommended Stories » Related Articles: Entertainment & Lifestyle `Day the Earth Stood Still' launches to $31M debutAP - 49 minutes ago Alexandra Burke wins Britain's 'X Factor' crownAFP - Monday, December 15 Strauss opera strong musicallyAP - Monday, December 15 Alexandra Burke wins 'X Factor' crownAFP - Sunday, December 14 Russian crowned Miss World 2008AFP - Sunday, December 14 Enlarge Photo Shoppers walk past Daffy's, a fashion brand name discount chain store, in New York, December 11, 2008. Discount stores such as Daffy's, Century 21, Filene's Basement and others, despite offering brand names clothing goods to often less than 50 percent of the original price, also feel the falling retails crunch, ahead of the holiday season. Most Popular – Entertainment Viewed Actress Jennifer Aniston appears naked in GQ magazine US carmakers mull options as White House vows aid Fortis bank, saved from collapse, again on shaky ground Queen Elizabeth II reins in extravagance as credit crunch grips Russia crowned Miss World 2008 in African event View Complete List » Search: Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular

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