Just found an interesting article about some of the tactics now being used by Spanish Retailers, including the ridiculously expensive El Corte Ingles, to get consumers to part with their cash.  Here are some snippets:

Discounter DIA has boosted its private-label offerings to about 7,400 products from 2,000 two years ago, and it’s giving seasonal store-brand products such as panettone Christmas bread more prominent placement than brand-name rivals. Despite the crisis, DIA shares have gained more than 50 percent in the last 12 months as net income continues to grow more than what the market expects.

Closely held El Corte Ingles, Spain’s largest department store chain, known for sumptuous outlets staffed by legions of salespeople, has cut prices on 5,000 products by 20 percent and is trumpeting the change in its advertising.

Clothing retailer Cortefiel, which makes about a quarter of its annual sales around the holidays, has changed its ad strategy to stress value. And it’s offering Christmas merchandise earlier this year and expects to introduce markdowns in November.

Source: Bloomberg