So today I did my bit to jump-start the economy by going to Union Square to buy a few things. Whenever I shop I ask the sales associates "How's business?". You can read all you want in the Wall Street Journal and trade papers about the "macro" picture but if you want to know what's happening on a "micro" level, sales associates are a good source.
Here's the report:
1. Charly of Origins at Macy's (purchase: cosmetics for the missus - $48) "Weekend business is picking up.. weekdays... (a "so-so" hand gesture).
2. Todd of Verizon (purchase: new Blackberry Curve $149 with $100 rebate) "Much better than two months ago".
3. Bruce of a New York retailer at the former CompUSA site which is being leased for four months to sell off inventory at steep discounts (purchase: Joseph Abboud suit. Retail - $695. Discount $149!) "Look for yourself, it's flying off the racks!"
My personal observation was that there were lots of people having a good time, darting in and out of shops. The economic fear that gripped us for so many months seems to have abated.
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