So there have been stories reported this week that Macy's is staying open around the clock and JC Penny is staying open until midnight. This isall in the hopes of getting every sale they can and help the bottom line in this worst shopping season since tracking started in 1969.
Is it just me or is there a major problem in their thinking? First, if the customers are not coming out during normal hours, what makes them think they will come out in the middle of the night? Yes, maybe they are lowering prices even more, but are they spending more on advertising to let folks know?
Second...for all the money it costs to pay for the building utilities (electricity, lights, heating) and salaries, are they actually selling enough to cover the extra costs and help the revenue bottom line?! I can't think of how this is possible. It seems like they are just making things worse for themselves.
I'm not an economist, so if anyone can explain the logic to me on this one, I'm open for an education on this one.
Happy Chrismahanakwanzikah Folks!
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