Word: consumerized
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For the past several months, luxury businesses have been battening down to cope with a sinking economy. As the consumer pulls back on discretionary spending, luxury executives and retailers are scrambling to redefine themselves. Tiffany & Co. is opening smaller stores. J. Crew has set up shop in a former Tribeca...
Due to plunging consumer demand - new-car sales across Europe dropped 14.5% in October - France's two major automakers, Renault and Peugeot-Citroen, have temporarily shut down production at several plants. Peugeot is expected to present a plan Tuesday to cut 2,700 jobs. In Germany, Chancellor Angela Merkel has...
Black Friday is over, and retailers are breathing at least a small sigh of relief. Results were not as bleak as some feared; consumer spending rose a surprising 7% over last year. Now websites are kicking off their own holiday shopping season, and hopes for similar results are high.
Both businesses had attracted criticism for their sluggish response to changing consumer tastes, but it didn't matter much in fat years - and British retailers have enjoyed some very fat years. In June, government figures showed that free-spending British families had racked up debts equivalent to 173% of their...
Such tactics may help fatten corporate profits, but they hurt consumers, says Ilaria Passarani, health policy officer at the European consumer organization BEUC. "These measures represent a huge cost for patients and healthcare systems," she says. "These major drug companies should be focusing on innovative medicines, but this report says...