Prices drop in attempt to boost sales

The holiday season is fast approaching, and retailers everywhere are feeling the effects of our dwindling economy.

Manhattan's Fifth Avenue, which is usually known for it's 'upper-crust' shops, has been displaying red SALE signs in their windows for quite some time in an attempt to catch the eyes of customers who are getting hit hard by the current state of our economy.

While Banana Republic and H&M are offering "Friends and Family" discounts to anyone - and everyone - who walks into the shop, stores like Bloomingdales and Bergdorf Goodman are "discreetly" lowering their prices, trying to keep up with their competitors.

It seems that, while the retailers are keeping the interest of the customers in mind, some of the employees shudder at the thought of a sale. At Bergdorf Goodman, a $1,400 Nancy Gonzalez raspberry crocodile skin clutch is now selling for $980.

With only a few weeks to go until the holidays are upon us, stores are furiously trying to boost sales with dramatic price drops. SALE signs lure in tourists and locals alike, but only time will tell if it will be enough bait for customers to bite.

For more information on Manhattan's pre-holiday price cuts, check out the full article, "On Fifth Avenue, the Discounts Arrive Early" in the regional section of The New York Times.