Every year thousands of delegates show up at Davos not just to discuss and debate important issues, but also to get a taste of high end shopping at the promenade of Davos.

And this time they are seeing signs they have never seen before—sale and discount on most shop windows.

However, the winter chill is not the only reason why shoppers are missing this time in Davos. Even the unusual discount offers are not good enough.

Switzerland, one of the richest nations in the world attracts millions of shoppers and tourists every year, thanks to the snow-clad ski slopes.

But the high standard of living has not managed to escape the brunt of recession in Europe.

Job cuts are now a real fear, something that the World Economic Forum will also discuss.

Perhaps, when the times are bad, offering discounts and sale is the only way out to attract shoppers even if they are one of the richest in the world.