Monday, May 18, 2009

Monster Cable lowers prices during recession

By Jefferson Graham, USA TODAY

The economy has not only taken a toll on consumers, but it has affected stores across the country as well. Of course, that is expected dealing with the circumstances...once the consumers realize they can no longer afford what they once were capable of buying, the stores become aware that sales are quickly decreasing! With sales going down hard and fast, certain stores are closing just as fast as those sales are declining. For example, Graham stated in his article, "Consumers snapped up premium cables for $100 and more when purchasing expensive new flat-panel TV sets and home audio equipment. Then the recession hits. TV sales stalled. Monster lost one of its top retailers---Circuit City, which closed 567 stores."  The founder, Noel Lee has made the executive decision to reduce the prices on top-of-the-line cables for high-definition TVs. I fully agree with Lee's choice regarding the cables for TVs. If people see stores adapting to the economic changes then they may be more susceptible to go along with them and purchase from the stores dealing with the change. 

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