The sluggish economy is hitting apparel retailers from two different sides: consumers are buying less, and they're increasingly demanding (and getting increasingly good at finding) discounts when they do.

According to Moody's, consumer spending will likely continue to slump for the foreseeable future, with year-over-year growth slowing to 4 percent in the third and fourth quarters.

This is already a tough environment for retailers. But it's made worse by the fact that a sizeable bulk of the purchases that are being made are discounted. Why? Consumers are feeling the same financial pressures retailers are, and they've gotten very, very savvy about finding ways to squeeze every dollar.

Recently, IBM Global Business Services put their ear to the digital zeitgeist and came up with some interesting statistics that show just how much consumers are craving.

Posted: 9/6/2012 2:52:40 PM by Global Administrator | with 0 comments

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