Spending and Saving
Downturn Deals: Sacco Shoes
We wander past signs like this all day long. Some of them are more surprising than others. This one definitely caught our eye and, we must admit, caused a wee bit of secret delight.
What is the deal? Shoes and boots are 50 percent off prices well below normal levels.
Really? Where? At Sacco Shoes, a modestly pricey store chain; this sign was in the window in its Chelsea store in Manhattan.
What’s one to make of this? First of all, buy now, because the inventory is always good — and always on the high end of your budget: Shoes for $150/pair and up, boots never less than $250 (we’ve owned three pairs, none of which were less than $300 per). It may be time to bring out the spring inventory, but we’ve never seen Sacco prices so low. This is a sign of the recession.
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These are everywhere, both in stores going out of business and those that are not. The Wall Street Journal had a long expose Monday about Saks Fifth Avenue’s deep discounting pre-Christmas and its effect on the rest of the industry. Net net: no one is paying retail these days.