A Feeding Frenzy For Foreign Shoppers

Weak Dollar Means Increased Tourism, Retail Sales For U.S. Metro Areas

(CBS)  When Pam Parisi leads shopping excursions through New York’s fashion district, she’s used to getting some foreign tourists in her group. But the morning when CBS News correspondent Anthony Mason tagged along, 11 of her 12 customers were Europeans.

“We've always had Brits. We've always had Irish people, Europeans,” said Parisi, director of Elegant Tightwad shopping excursions. “But now they're coming in droves. In droves!”

Because with the dollar near record lows, to Europeans like Elizabeth Morton, it looks like we’re giving it all away.

“I’ve been manically shopping for four days!” Morton said. “My feet hurt.”

The influx has been awesome. One million Europeans are expected to visit New York City this month alone. That’s about 50,000 more than last year.

Picking the foreigners out at Big City Outlets is easy. They’re the ones dragging suitcases behind them.

“It’s like a feeding frenzy,” said British travel agent Shane Mallon.

Mallon says his bookings to the United States are up nearly 40 percent this season.

"And it’s purely driven by the desire to shop, shop, shop,” Mallon said.

Some foreign shoppers aren’t even leaving home to buy here. The Virginia-based Web site Dyscern.com sells reconditioned electronics, like iPods and digital cameras.

"Our products are great deals for those overseas. Thirty percent of our business is overseas,” said Jennifer Canty, who runs Dyscern.com.

The iPod Nano she sells for $189 would cost the equivalent of $240 in England.

But for busloads of foreign tourists, the land of opportunity suddenly looks like the sale of the century.

[skeezix06]

I guess you missed the NPR interview yesterday about the fact that the European Union is a bigger market than the U.S. and that their standards for product safety are now higher than ours? According to the interviewee, we won''t be selling much over there in the future because our goods don''t meet their quality standards.

Yep. Looks like you all missed that one...

[mediapreachr]

First of all I don''t think any european shopper would like to stand in one foot at the airport checkup line,waste hours on end waiting for the plane to arrive,and in the end having their luggage sold on ebay(after it was lost).Most of us know by now the meaning of globalization-lowering your standards(as a country)to meet the standards of India,or any other third rate country.

[middleman8]

Wait till these bargain buyers get home and check the labels, they will find out the US is only a middle man and all their bargains were MADE IN CHINA.

[libsluvsuvs]

I can see from past post from anti-american liberals that any news that is somewhat positive for this country tend to send them into a frenzy

[ubrew12]

Thanks for putting a happy face on the fact that Bush and the neocons have turned average American''s into Third World citizens.

[appls2orngs]

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'' .. give away 19.5 billion veggie burgers / night, be visited by everyone, rake in tips donations volunteers for operations and sub let operations .. more practically, give 165 or 16500 veg burgs with five others, rake in quarters & dollars & song dance skit kit .. ''

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'' .. troops, one day there will be peace and prosperity and why why why, till then, let''s forego rest and comfort to pump trillions into baby raping war for the salvation of huvanity .. ''

'' .. you tell all eternity theres no free infinite wishes come true, no you tell all eternity theres no free infinite wishes come true .. ''