With Shoppers Pinching Pennies, Some Big Retailers Get the Message

New York Times, April 13, 2009 — IN real estate, the saying goes, the golden rule is location, location, location. For retailers in a recession as severe as this one, it is value, value, value.

As shoppers remain reluctant to open their wallets, stores are still scrambling to adjust advertising and marketing strategies to play up the value aspects of what they sell. Even as retail sales data for March suggested improving results at some chains, consumers are hesitating to buy much beyond groceries, gasoline, vitamins and candy.