Reading the paper this morning made me think long and hard, is the credit crunch going to effect Christmas retail sales?
How can it not? People use their credit card to buy elaborate gifts for Christmas, typically its the busiest time of year for loan firms and creditcard companies whom give loans out on a whim.
So with the credit well drying up- are people going to spend or use the credit crunch as an excuse?
Being an online retailer I was really looking forward to the christmas rush, now I'm waiting with a degree of anticipation of what could lie ahead. If Bush does not push through his proposal to bail out the banks we're all in for a very tough time indeed- and we could see some of the major retailers struggle- and some major rounds of redundancies.
What do you think?
I'm keeping my fingers crossed that's for sure.
http://www.sorethumbgames.com/- Pinching more pounds off games for Christmas.
How can it not? People use their credit card to buy elaborate gifts for Christmas, typically its the busiest time of year for loan firms and creditcard companies whom give loans out on a whim.
So with the credit well drying up- are people going to spend or use the credit crunch as an excuse?
Being an online retailer I was really looking forward to the christmas rush, now I'm waiting with a degree of anticipation of what could lie ahead. If Bush does not push through his proposal to bail out the banks we're all in for a very tough time indeed- and we could see some of the major retailers struggle- and some major rounds of redundancies.
What do you think?
I'm keeping my fingers crossed that's for sure.
http://www.sorethumbgames.com/- Pinching more pounds off games for Christmas.
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1 comments:
I worked in retail management for a few years and recently left the industry due to the inability to get pay increases. I mean, not only are sales down nationwide, but operating costs are increasing ten-fold along with customer "unhappiness". I got out of the industry before the credit crunch this summer, but things were already pretty rough at that time.
As for a resolution to the crisis, the "Bailout Bill" passed both houses this morning and looks to be signed into law quite soon. I suspect that the "bailout" will only continue to inflate the economy whereas I feel it needs to level out. It may be painful (leveling out), but it is necessary or else we'll likely face a similar crisis down the road.
Those are my thoughts anyway.
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