Rev. Billy and the Church of Stop Shopping declared victory over greedy consumerism this Black Friday. For years this self-styled street preacher has been trying to get would-be shoppers to celebrate "Buy Nothing Day" the day after Thanksgiving instead of marching to the malls. This year, he says, the idea seems to be catching on.

Rev. Billy reported to a crowed gathered in Manhattan's Union Square that he turned up at Macy's flagship store on 34th Street early this morning and found far fewer eager shoppers than in years past. Every year he and the Stop Shopping Choir sing at Americans to "Start to Stop Shopping." That's an acknowledgment that we all shop too much and face a perpetual battle against greed and materialism. Rev. Billy dresses like a preacher and treats shopping as just one more sin that is tempting but to be avoided.


Rev. Billy is no fool and knows it's the recession and not his ragtag choir that is persuading us to stop shopping. But it is the end of an era--an era of being told shopping is patriotic, an era of false prosperity and an era of ignoring overwhelming personal and government debt. All to buy things we want, but don't really need.

Reductions in retail foot traffic may signal continued tough times ahead for restaurant chains, which are mainly dependent upon shopping mall exposure for gaining customer volume. Many large restaurant chains, including Cheesecake Factory, Red Robin, and Ruby Tuesday, have significant presence in retail shopping malls. These dining establishments are certain to experience continued weak sales figures as consumers restrain their discretionary spending.

According to a report in The Wall Street Journal, ShopperTrak RCT Corp. indicates that sales figures for restaurants declined over 12% for the month of October, in comparison to last year.

Although restaurant sales projections appear fairly grim, the food service sector is not nearly ready to give up the fight.

Nearly two decades after Sears discontinued its layaway plan, the pre-payment service will be available again starting Sunday for customers who want to put money down on items and get them later.



Sears never fully left layaway completely -- it has been offering it for fine jewelry since 1989 -- but now it will be there for customers who want anything but home appliances and home electronics.

Why is Sears back in the layaway game? Have you seen the stock market ticker lately? As the economy sours and consumer dollars stay in their wallets, Sears is jumping on the return to layaway bandwagon with K-Mart, Burlington Coat Factory, Marshall's and TJ Maxx. Yet to return to layaway this holiday season: Toys 'R Us, Wal-Mart, Target and JC Penney.

WalletPop named layaway one of the most underrated things in America in a recent series, and also labeled it, "the new black."

During times of financial turmoil, consumer spending tends to drop across the board, with a few exceptions for the things that are simply necessary, like household groceries. But surprising new data from froggybank.co.uk, the UK's leading cash-back shopping network, indicates that lingerie might just be recession-proof.

Underwear sales in Britian are up by 2% in the last three months, while markets for just about everything else have plunged. While the idea of a recession is demoralizing for most, small personal luxuries and treats are important. While Americans generally turn to cheap ice cream to get through the rough times, Brits value their intimate apparel to keep spirits high.

Froggybank.co.uk marketing manager Nadeem Azam stated, "We found the statistics surprising but the figures prove internet shopping still offers good value no matter what's happening to the economy."

Buying bras may not do much to fix the economy's problems, but hey, when the sky is falling all around you, it is some consolation to know that you're going to look good [nearly] naked.

I love Steve & Barry's. The clothes aren't exactly the nicest you'll find, but when almost everything for sale is under $10, you can really go nuts without feeling guilty about running up a credit card bill. The nearest store to my house is about an hour away, so I only get to shop there a few times a year. I was really looking forward to my latest trip, too, until I arrived at the store and saw all the going out of business signs, and almost no inventory left.

My (semi-) local store is one of 103 Steve & Barry's locations that are closing their doors, after the company was purchased out of bankruptcy last month by private investors. Following the liquidations, about 170 stores will remain, so I'll still be able to get my $9 pants and college sweatshirts, but with the cost of gas to get to the next closest store, I might as well pay the $40 the college bookstore wants for the same shirt. It's a real bummer for customers, but there's a positive spin for other retailers.

JG Resources is the asset liquidation company conducting store fixture liquidation sales at 49 Steve & Barry's stores in 22 states. CEO Jim Grimwade says that by selling store fixtures to other retailers at a fraction of the cost of new fixtures, these liquidations will "help fuel the local economy's growth. It could also help retailers create new jobs by cutting costs from their bottom line." Ah, the power of positive thinking. Let's be honest -- saving a few bucks on lighting fixtures isn't going to free up the cash to hire all the people who lost their Steve & Barry's jobs with the closures, or bounce back from a weak sales quarter, but hey, savings are savings. The fixture liquidation sales are open to the public as well as other businesses. View all 49 selected store locations, sample inventory lists, and fixture photos here.

When Target Stores put Mervyns on the block to sell in 2004, you'd think it would be a case of buyout-ee beware. Any entity willing to pick up the tab on a chain of failing department stores has its own best interests at heart, and is not riding in as a White Knight to save the day. But now the former owners of Mervyns are suing the private equity group that bought it for putting it out of business.

As detailed in the Wall St. Journal, (subscription required) the Mervyns team claims that Target set up the stores to fail when it cut a deal with a group of investors. The two-part transaction sold the stores and the real estate separately. The new owners then leased back the properties to the stores and effectively put them out of business with increased fees. Mervyns went into bankruptcy over the summer and will be shutting down a slew of stores.

As retail and restaurant businesses continue to fail in this sour economy, you're going to see a lot more of these stories cropping up, and probably a lot more hurt feelings. It's an economic lesson that most of us can learn something from, even for personal finances. When you are in economic trouble and seek help, the person or entity who kicks in cash to help you is likely going to take more from you in the end.

Mervyns was valuable mostly because of its real estate holdings, and so the equity group came in and took what it could from it. Mervyns failed, but that's not going to cause the owners to lose much sleep, because they can just rent out the properties to somebody else. The current mortgage crisis is being caused by similar thinking, as homeowners fail on their loans. The banks were willing to dole out bad loans because, in the end, they will own the property and can resell it for some value.

I don't know whether to laugh or cry.

On the one hand, finally my peers see the wisdom of shopping at thrift stores. No longer must I endure the fish eye when they find out the gorgeous dress I'm wearing wasn't bought at Bloomie's for $400, but rather pulled from a pile of newly-donated clothes down at the local Presbyterian thrift. Price: $4.

On the other hand, thrift stores might not be the treasure troves they usually are much longer. And I don't like the sound of that at all.

Imagine that you are the human resources manager for a large firm. One of your most important duties is to find exemplary employees and to mold them into a stellar workforce for your company. One day, your general manager calls you into her office and asks you how you intend to build the very best employee group that your company has ever had. You reply; "I know, we'll offer them a bonus to quit!!!"

It may sound a bit strange, but that's exactly what one cutting edge Internet retail company does. An article by William C. Taylor, former associate editor of Harvard Business Review, explores the amazing success of Internet shoe retailer Zappos. In his writing, Bill Taylor reveals that part of the strategy utilized by this company to build its exceptional work force is; Zappos pays new employees to quit! Bill explains the strategy like this:

"After a week or so in this immersive (intense training) experience... it's time for what Zappos calls "The Offer." The fast-growing company, which works hard to recruit people to join, says to its newest employees: "If you quit today, we will pay you for the amount of time you've worked, plus we will offer you a $1,000 bonus."

Bill goes on to say; "Zappos actually bribes its new employees to quit! Why? Because if you're willing to take the company up on the offer, you obviously don't have the sense of commitment they are looking for."

I think this strategy is absolutely brilliant. In the short term it's a picayune expense when compared to the long term costs of having a person on payroll who dislikes or even resents being there. It's an endlessly compounding investment in employee morale, resulting in a group of employees who can look among themselves and say "we really do like working here."

It would be my guess that Zappos reaps more than 10 times its investment in this strategy by just reducing absenteeism and increasing productivity, among other ancillary benefits. This is just one more prime example of how setting aside conventional wisdom can quickly vault a company to unprecedented success in the marketplace.

Watch out! Major retailers believe they have found a "recession proof" group of shoppers -- your teenager.

In a bid to avoid the closing of stores at malls nationwide, retailers are looking to capitalize on the influence teens have over household purchases. They believe that middle class teens won't feel the affects of a recession. Research shows that teens influence 90% of grocery and apparel purchases. Many stores are changing displays and using big names to lure a trend conscious younger market in their doors. The hope is that parents will come along too and buy items as well, further boosting the stores sales in an otherwise difficult time.

I see several issues with this strategy, one, which USA Today points out, is that children typically do not shop in the same stores their parents do. Call it rebellion or a strange fashion sense, but the last place most teenagers want to go is the same store their mom just bought a pantsuit at.

The second issue is, even teenagers who can't drive don't like to go shopping with their parents. Growing up, my sister and I would beg to be dropped off at the local mall with cash or mom's credit card rather than be forced to try on a plethora of clothes with mom in tow. If teens don't want to be in the same building, let alone the same store with their parents retailers will have difficulty raking in the extra impulse buys from parents.

Finally, if your teenager is influencing 90% of the grocery and apparel purchases for your household, you better be raking in the cash, because from my personal experience, teens tend to have expensive taste in clothing and food. Next time you head to the grocery store leave Johnny at home and during your next trip to the mall, show Suzy where TJ Maxx is.

Some deals only come around once or twice a year, but offer savings that justify the wait. This post is part of our series on such 'don't miss' sales.

If words like "Leksvik", "Malm" and "Hemnes" don't sound like an exotic type of pickled herring to you, chances are you are an Ikea shopper.

You also are probably an Ikea shopper if you are in your first apartment or live in a neighborhood where it's important to be trendy on a budget. Maybe you like the store's merging of cool Scandinavian design with functionality and the yummy Swedish meatballs in the cafeteria.

Regardless, you probably like the chain's "impossibly low" prices. I know I did when I worked there during the chain's early days in the U.S. I was there in Plymouth Meeting, Pa. when the store opened its doors for the first time. Throngs of people came in to gawk at the ultra-hip home furnishings. I was in the plant department even though I didn't know anything about them. However, I think I correctly advised one customer that his plants probably kept dying because he kept them on the radiator.

The prices are pretty reasonable on most things. Anyone looking for a real bargain can occasionally find them in the room where returned goods are kept though they are sometimes damaged. Ikea does run occasional promotions such as a $150 gift card with the purchase of any mattress. But anyone looking for real bargains, though, has to wait for the once a year twice a year sales.

Stores knock off 20 to 60% off selected merchandise. The company also has done clever promotions where people can "rent" Christmas trees and return them to the store to get recycled. Sometimes customers get cash back and gift cards.

The deals, though, are almost as sweet as Swedish lingonberries most of the year.

If you're feeling blue because you don't think you can spend much green to make this a Valentine's Day with a lot of red in it (think: cards, candy, roses), you're not alone.

TNS Retail Forward, a Columbus, Ohio, retail-research group, released a survey late last week that predicts a rather anemic-looking Valentine's Day for shoppers and store owners alike.

Some of the findings:

*Although men plan to spend $95 for Valentine's Day versus $92 in 2007; women will spend less: $67, down from $74 last year.
* Sixty-one percent of men plan to buy a card, compared with 69% last year.
* Sales in perfume and flowers are expected to be flat this year. Fine jewelry, lingerie and clothing will rise a little.

Not that I'm looking, or anything, but experts say if you're in the market for a new HDTV, now is the time to buy it. Conventional wisdom has it that the best time to buy a new TV is in the weeks just after the Superbowl, when retailers are moving out the old to make room for the new.

Of course, actual HDTV sales weren't as spectacular as retailers had hoped...a taste of tapped-out consumers perhaps?

Hope springs eternal. According to some reports, analysts at Pacific Media Associates say we can expect a 15.6% drop on flat panel display prices this year. According to the research company, last year saw a 14.7% price drop on HDTVs, which increased sales by 41%. Sales will continue to skyrocket in the period leading up to the switch to Digital TV next year.

We all know that HDTV's are about the only thing going down in price these days. Will the recession we're in or about to enter (depending on who you're reading) have any affect on this symbol of American consumerism?

Pssst, Hey buddy, have I got a deal for you.

Every once in a great while you might get an approach similar to that at your friendly neighborhood resale shop. That can be especially true if it's a shop you're not very familiar with. When a thrift store employee or operator brings out something from under the counter which they have "saved for special customers,"... watch out! The chances are good that you'll be looking at an item from a questionable source.

Take for instance that mint condition collection of Buffalo Head nickels, or a complete set of sterling silver flatware in its own velvet lined case. The sales person may tell you that it came from an estate sale they were at that same morning. Take care about your purchase or you could become guilty of receiving stolen property. It's a dead giveaway when the store clerk suggests that you go outside to look at items they have in their car. Yeah, it's not on the shelves and it's not on the books. Ask them if you really look that much like an idiot.

I read an interesting article recently over at TheStreet.com which outlined five business ventures which can be undertaken with little or no cash investment. These are proven ideas which may work for just about anyone. I'd like to give you a brief synopsis of that article by Jeffrey Strain and I'd also like to interject a couple ideas of my own.

Jeffrey's opportunity list starts out by suggesting a venture which is near and dear to my heart (and wallet). That suggestion is blogging. Yes my friends, there is money to be made in blogging. In fact, I'm padding my own bottom line right now. Blogs are easy to start and if you're a natural writer, blogging is easy to do. Jeffrey gives you a couple directions you can go for getting started as an independent, or you could take your shot at blogging right here with us! There are two basic kinds of blogging you may wish to consider. You can blog as a strict independent or you can blog as a freelance / contract writer. I prefer the contract gigs for myself, because they offer a good measure of security and you often have seasoned writers zipping around who can help you out of an occasional tough spot. (Thanks team!)

Retail has developed some funny ideas over the years, including the notion that deepest winter is the perfect time to introduce the Spring line. Good luck finding sweaters and coats in the stores when it's actually cold outside. It's like trying to find a bathing suit on the racks in July. It's strangely impossible.

That's why I love the internets, where there are no seasons when it comes to sales. This is a case in point: It's cold now and I'm thinking I'd like a new coat. Why, and look! Wilsons Leather is having a big sale on coats!

Nothing says "end of holidays" like the cheery sound of 70% off. Check out some of these deals on warm, leather and Shearling coats: A Sean John hooded leather bomber jacket that was $495 is now on sale for $149. A Smith & Wesson leather cycle jacket was selling for $500 is now selling for $249.88.

On the lady's side: A Guess faux sherpa was $230, now $69. That's why not pricing. A Kenneth Cole three-button topper was selling for $480, now on sale for $144. There's lots more, and kids' stuff, too. Baby, it's cold outside, but all the more reason to check out his sale now.