Mexico's stores are packed, but discounts dampen sales

12/23/2009 | Reuters

Shoppers are packing stores in Mexico in the run-up to Christmas, but reduced prices and major discounts mean sales are not meeting expectations. "The stores may be clogged, but what are people buying? They are going for the goods marked with a super-discount or super-promotion," said Raquel Moscoso, an analyst at Ixe Financial Group. "Everybody is literally slicing the pie ever thinner, and in many cases they are sacrificing margin for volume."

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