Monday, Nov 26, 2007
Retailers might get lucky this Christmas
MoneyWeek: Why Christmas is a poor recession indicator
There's a lot of tension in the retail sector ahead of Christmas, which is unsurprising considering what a make-or-break time it is for the trade. And of course, their lobby group, the British Retail Consortium, is always on the lookout for a chance to paint as bleak a picture as possible, in the vain hope of twisting the Bank of England’s arm into an interest rate cut or two. But is it really going to be the calamity the pundits have predicted?
Posted by mary @ 08:34 AM (393 views) Add Comment
4 Comments
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1. Tenchama said...
Good article, really on the ball .This Christmas ,sales may only be down a fraction, it's next Christmas that will be canceled."Christmas presents are not luxuries".That's not what I tell my Mrs !
2. handle_it said...
For the last few years the "economy" (for want of a better word) has been driven by stupidity and reckless lending. Like the dumb dawg chasing its tail or the exhausted mule plodding toward the illusive carrot we continually try new ways to stimulate so called growth. Society is left as a secondary concern, almost a hindrance to the real and important issue of making money. Often we’re told how our inconvenient habit of being ill and unable to work costs the economy X amount of money. The economy is all, our master and keeper.
3. drewster said...
Every year for as long as I can remember, the retailers have been crowing about how "this Christmas will be the worst ever", only for sales to magically recover by December 24th. However last year's Christmas trading in the USA was instructive: the luxury shops like Tiffany's performed well, but the ordinary shops performed poorly. This was attributed to a growing rift between the rich and the poor, squeezing out the middle-classes. Hopefully we won't see the same outcome in the UK but I wouldn't bet on it.
4. Silverman said...
Yep, here's this year's one fresh fron the beeb...
http://news.bbc.co.uk/1/hi/business/7113212.stm