Black Friday sales come early to Venezuela
For many, Black Friday, with its swarms of bargain-hungry shoppers and special sales, marks the official kick-off to the Christmas-shopping season. By that measure, the holidays have come early in Venezuela this year.
In what has amounted to a nationwide fire sale, huge crowds have been descending on retailers across the country for weeks, after President Nicolás Maduro ordered discounts on everything from clothing and cellphones to car parts and home supplies. But fears are mounting that the mobbed sales now could lead to nationwide "post-holiday blues," as questions fly over the sustainability of such price-slashing and how to restock store shelves with rigid regulations in place.
"[The government intervention] is a huge blow to business and and what's left of entrepreneurial spirit in the country," says Victor Maldonado, director of the Caracas Chamber of Commerce.
President Maduro's administration has been grappling with empty store shelves and spiraling inflation since taking the helm in April. While many are skeptical that government-mandated markdowns can succeed in remedying Venezuela's troubled economy, at the very least, the discounts may help the beleaguered president save face ahead of the Christmas season, serving as a distraction from the country’s more pressing problems.
http://news.yahoo.com/black-friday-sales-come-early-venezuela-120004363.html
