Tuesday, Aug 14, 2007
Americans Running out of Grocery Money
The Times: If the Americans stop shopping, then panic
Very interesting article revealing that Wal-Mart sales are up 14 per cent which is a worrying sign suggesting that a surge of Americans are seeking low prices because they are so worried about their weekly shopping money that they can no longer afford to go to their regular, fancier supermarket.
The feelgood factor of a rising housing market has gone. Existing home sales are down 12 per cent. The average time homes spend on the market is 8.7 months, the highest level in 15 years.
Posted by enuii @ 11:25 PM (139 views) Add Comment
5 Comments
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1. david20040_0 said...
But this is the United States, I wanna hear about the UK.
2. enuii said...
The UK is bordering on a one party banana republic where newspapers and the media do not report on such subjects.
3. This comment has been removed as it was found to be in breach of our Blog Policies.
4. Grimsby Reaper said...
What a dumb conclusion. Walmarts profits have gone up every year; not just when the housing market is turning to plop.
You could also conclude that Americans are buying more food from Walmart because their growing bellies are needing more food. Alternatively, there are more immigrants from Mexico. They dont get paid great so they shop at Walmart, which is cheap.
To make such a conclusion one should analyse all the other supermarket profits, such as a Wholefoods or similar upmarket stuff. Are their profits down because of the housing ploppiness?
5. inbreda said...
Can't imagine the supermarkets having a price war for basic groceries if everybody demands expensive pre-packaged M&S type food. Maybe that's an indication that it's already happening over here.
In fact the poorer people get, the more they are likely to shop at Lidl instead of M&S. Now how will that effect the cpi I wonder?