Noon, the official opening day of the winter 2009 sales. There aren’t many people on Masséna Street in downtown Nice. The rain and wind are likely dampening the spirits of some, but perhaps it’s worth waiting until after work or school lets out.
12:15 PM: Ah, there we go! Here come the people of Nice, bustling down the “pedestrian street” near Place Masséna. The hunt for bargains has begun in the wake of an economic crisis that, month by month, lightens the wallets of the French a bit more. As such, economists and shopkeepers do not expect a real increase in purchases.
Of course, after already two weeks of discounts, major reductions are out to boost sales of a particularly tough second semester of 2008. Discounts of -30%, -50%, and even -70% are available in about ten stores in the famous “pedestrian” area. Professionals do not hesitate to slash prices and offer deals from the first days. Especially since the winter sales represent the best selling period, according to the French Fashion Institute. According to the institute, 13% of sales are recorded during this long month of discounts, compared to 11% during the summer sales and 10% at Christmas. “It’s true, I often buy my clothes in January after the holidays,” comments Alexandra, 23, a student at the faculty of letters. “I am spoiled at Christmas and I work during the school holidays, so I take advantage of it then,” she smiles, shielded by a long black coat against the cold.
An Expected Spike in Consumption
However, the gloomy economic situation faced by the French should not lead to excessive spending. A spike in consumption is indeed expected, though one should not hope for it to boom significantly. “This is not the time to spend wildly when we don’t even know what will happen in the coming months,” analyzes Pascal, a sturdy fellow and father of four children. For this dynamic dad, it is time to tighten the belt and watch his savings. Nonetheless, dressing well is essential, like for Romain, 28, who is job hunting: “I need it. I’m going to buy some sweaters and two jeans,” he mentions softly. “I can spend a maximum of 120 euros.”
Like Romain, many are eagerly awaiting the sales. It’s certainly one of the rare moments that allows one to enjoy such opportunities.
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