Euro Debt Crisis May Impact NYC Retail

Faith Hope Consolo, chairman of the Retail Group at Prudential Douglas Elliman, says that she has kept her eye on the debt crisis and its effect on New York retail and that it has yet to have a real impact because "all the products are so much more expensive there than here to begin with." Her European clients not only continue to do their personal shopping here, with slight adjustments, but they are also looking to expand their businesses as well. "They definitely shop differently," Consolo says. "They used to buy five of something—now they buy three. But they haven't stopped coming."