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Chasing new customers can be counterproductive

There are a lot of retailers wallowing in self-pity as consumers continue to go slow on retail spending. However, those retailers are likely to be victims of their own making, rather than casualties of new competitors, including online vendors, and consumers keeping their wallets closed. The macroeconomic environment continues to be challenging with consumers directing tax cuts and interest rate savings to stem rising household debt levels and higher charges for services. While the deep discount