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Jul 9, 2008 7:11 pm US/Eastern
Consumer Report: Shop, Save Like The Europeans Do
NEW YORK (CBS) ―
With the exchange rate of the U.S. dollar near historic lows compared to the Euro, Europeans are flocking to New York to shop. But don't fret, CBS 2's Consumer Reporter Kirstin Cole has the clever shopping tips of tourists that will also help you land big bargains right in your own back yard.
The Ernst family from Germany just landed here in New York, and they already have a shopping plan, toting half-empty suitcases.
"We fill them just halfway. We fill them up with the things we buy from Macy's," said Frank Ernst.
Europeans get an automatic 40 percent savings by exchanging their euros for dollars. But even Americans are cashing in on deals, like a mother/daughter team from Utah who hired a shopping guide.
"It's been half off or more so well worth it," said Gwen Woolstenhulme of Utah.
All over the internet, the Brits and Europeans are buzzing about steals they nab while stateside.
"The bargains are not only for the Europeans, any New Yorker can get great deals," said a spokeswoman from Smart Money Magazine.
Kelli Grant with Smart Money Magazine says Americans first need to research on-line.
"But just having the right credit card can help you out. Mastercard, Visa, Amex and Discover all have discounts and they'll have promotions for certain businesses or certain cities," said Grant.
Pam Parisi runs all-access shopping tours at designer showrooms. It's a secret favorite of Europeans--but with bargains so good--even Americans can afford it.
"This showroom you have things that are retailing for $300 they are $50 here so you can pay for your hotel room and pay for your fare in what you save on this trip," said Parisi.
While it is a little light for sample sales this time of year, experts say it is the best time of the year to hit up department store sales. Just check out on-line first for extra coupons. Here are some sites to check out:
TheElegantTightWadSmartMoney
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