Retailers Slash Prices to Attract Cash-Strapped Consumers, Sparking Economic Anxiety
New York – Retailers in New York are facing a challenging climate as consumers are showing reluctance to spend as freely as before. In response, many stores are reducing prices on a wide range of products in an effort to lure shoppers back in. The trend of markdowns comes at a time when inflation has been driving prices higher, putting pressure on Americans to make decisions between their wants and needs. This shift in consumer …