neonwhizz Posted July 30, 2009 Share Posted July 30, 2009 So, times are meant to be hard, the age of austerity is upon us, job losses, higher bills and higher real inflation. Why are our shopping centres still so full of people buying tat, are we a nation of credit bingers ? When will the madness end. Any thoughts ? Quote Link to comment Share on other sites More sharing options...
Dorkins Posted July 30, 2009 Share Posted July 30, 2009 People who don't plan ahead much financially will just keep doing what they've always been doing until the day the P45 lands on their desk. "I've still got my job, why should I change my lifestyle?" Many of these people are going to learn from painful personal experience what a little research and common sense could have told them anyway: all good things must come to an end, and when times are good it's a wise idea to put a little aside for a rainy day. However, my feeling is that a lot of the apparent business on high streets is masking real changes. People are doing more window shopping or downgrading to cheaper alternatives. Quote Link to comment Share on other sites More sharing options...
Bloo Loo Posted July 30, 2009 Share Posted July 30, 2009 unemployed still need to shop. Quote Link to comment Share on other sites More sharing options...
interestrateripoff Posted July 30, 2009 Share Posted July 30, 2009 But what is it are they buying? Are they now buying from Primark and cutting back, spending £50 on clothes instead of £500 - £600 on fashion labelled items? Quote Link to comment Share on other sites More sharing options...
Bloo Loo Posted July 30, 2009 Share Posted July 30, 2009 But what is it are they buying?Are they now buying from Primark and cutting back, spending £50 on clothes instead of £500 - £600 on fashion labelled items? many will be selling....the big issue. Quote Link to comment Share on other sites More sharing options...
loginandtonic Posted July 30, 2009 Share Posted July 30, 2009 People who don't plan ahead much financially will just keep doing what they've always been doing until the day the P45 lands on their desk. "I've still got my job, why should I change my lifestyle?" Many of these people are going to learn from painful personal experience what a little research and common sense could have told them anyway: all good things must come to an end, and when times are good it's a wise idea to put a little aside for a rainy day.However, my feeling is that a lot of the apparent business on high streets is masking real changes. People are doing more window shopping or downgrading to cheaper alternatives. i have often wondered this, i concluded -children nag parents for toys -discount shoppers, see the queues in the cheaper shops are greatest -boredom, habit + addiction to shopping, depressives shop often i believe -they have yet to look at the apr on their card and think rates are down on plastic when opp is true usually Quote Link to comment Share on other sites More sharing options...
bengy1664 Posted July 30, 2009 Share Posted July 30, 2009 (edited) Because they're not spending their lives on an internet forum plotting the end of the World Edited July 30, 2009 by bengy1664 Quote Link to comment Share on other sites More sharing options...
richcrashman Posted July 30, 2009 Share Posted July 30, 2009 Have you seen the lengths a heroin addict goes to feed the habit?? I have a feeling spending money (and in a lot of cases building debt) is just so entrencherd in the minds of a large proportion. I think the sheeple mindset has a massive amount of inertia. It's what they have done for years. It's like a train heading to the buffers still with the throttle wide open and the goverment put a nice country picture in the window of the cab so the driver can't see whats coming. Quote Link to comment Share on other sites More sharing options...
Bloo Loo Posted July 30, 2009 Share Posted July 30, 2009 Because they're not spending their lives on an internet forum plotting the end of the World its a plot....so STFU.... Quote Link to comment Share on other sites More sharing options...
enrieb Posted July 30, 2009 Share Posted July 30, 2009 (edited) Their after the place, they don't know why. They just remember, remember that they want to be in here http://www.youtube.com/watch?v=0Su_9nk5ua8 http://www.youtube.com/watch?v=nAHMVxxMwR4 Edited July 30, 2009 by enrieb Quote Link to comment Share on other sites More sharing options...
Jadoube Posted July 30, 2009 Share Posted July 30, 2009 unemployed still need to shop. Exactly. Those on benefits are recieving the same as they ever did - so no recession for them. Market research that I've seen suggests that the people who are most likely to cut back on their spending are those who earn most. But note that cutting back is not the same as not going shopping at all. People who earn little are not cutting back. (They don't have much leeway to do so?) Quote Link to comment Share on other sites More sharing options...
hilltop Posted July 30, 2009 Share Posted July 30, 2009 Because consumer behaviour breaks down into segments and not all segments of the population have binged on credit, and/or lost their jobs, and/or maxed out their mortgage. Add in some good conditions for bargain hunters and the deepest gloom about the economy being largely in the minds of contributors to this website and yes, there are still people out there with money to spend. Quote Link to comment Share on other sites More sharing options...
loginandtonic Posted July 30, 2009 Share Posted July 30, 2009 its a plot....so STFU.... Quote Link to comment Share on other sites More sharing options...
Deckard Posted July 30, 2009 Share Posted July 30, 2009 ... the deepest gloom about the economy being largely in the minds of contributors to this website... cheeky Quote Link to comment Share on other sites More sharing options...
Dorkins Posted July 30, 2009 Share Posted July 30, 2009 Because they're not spending their lives on an internet forum plotting the end of the World We like our gloom... It is our precious and it loves us. Quote Link to comment Share on other sites More sharing options...
grumpy-old-man-returns Posted July 30, 2009 Share Posted July 30, 2009 So, times are meant to be hard, the age of austerity is upon us, job losses, higher bills and higher real inflation.Why are our shopping centres still so full of people buying tat, are we a nation of credit bingers ? When will the madness end. Any thoughts ? you are looking at the wrong thing. Look at the amount & type of bags they carry. Also, google the 'lipstick effect'. Quote Link to comment Share on other sites More sharing options...
grumpy-old-man-returns Posted July 30, 2009 Share Posted July 30, 2009 Primark bags UP BHS bags DOWN Quote Link to comment Share on other sites More sharing options...
Badger Posted July 30, 2009 Share Posted July 30, 2009 But then many like me, will also still be employed and 100% debt free. And shopping. Quote Link to comment Share on other sites More sharing options...
SNACR Posted July 30, 2009 Share Posted July 30, 2009 Er, they simply aren't. footfall is significantly down pretty much everywhere. A lot of centres have stopped publishing footfall data altogether or claim the counting equipment is broken - seems to be a rash of this. When it was constantly going up it used to be announced with a fanfare. Also, as others have mentioned footfall doesn't always convert to spending. Quote Link to comment Share on other sites More sharing options...
the primitive Posted July 30, 2009 Share Posted July 30, 2009 So, times are meant to be hard, the age of austerity is upon us, job losses, higher bills and higher real inflation.Why are our shopping centres still so full of people buying tat, are we a nation of credit bingers ? When will the madness end. Any thoughts ? Because most people are better off with the super-low interest rates. I am hundreds of pounds a month better off than this time last year, thanks to much lower mortgage payments It's that simple IMHO. The number of people paying lower mortgages far exceeds the number (so far) who have lost their jobs. My gut feeling is it will end in tears, but who knows any more? No-one on this site was predicting rising prices and retail sales 6 months ago. Not a single person. Yet here we are. Quote Link to comment Share on other sites More sharing options...
Guest absolutezero Posted July 30, 2009 Share Posted July 30, 2009 Because most people are better off with the super-low interest rates. I am hundreds of pounds a month better off than this time last year, thanks to much lower mortgage payments Which I hope you're using to pay off more capital instead of spunking it in the shops... Quote Link to comment Share on other sites More sharing options...
Bloo Loo Posted July 30, 2009 Share Posted July 30, 2009 Because most people are better off with the super-low interest rates. I am hundreds of pounds a month better off than this time last year, thanks to much lower mortgage paymentsIt's that simple IMHO. The number of people paying lower mortgages far exceeds the number (so far) who have lost their jobs. My gut feeling is it will end in tears, but who knows any more? No-one on this site was predicting rising prices and retail sales 6 months ago. Not a single person. Yet here we are. sweeping statement nonsense Are you set for a tracker mortgage payment shock? by Mortgage Matron Tuesday 19 May, 2009 A few months ago tracker mortgages were practically extinct as lenders withdrew them just days before the first shock interest rate cut. Now as those pre-rate-cut tracker mortgages begin to expire, many of you with a tracker are in for a surprise! This is because you could face a payment shock of as much as £7,000 a year in the next two months. This comes even as the Bank of England suggests that the UK’s interest rates could remain low for quite a while. Mortgage lenders are now warning you to brace for a dramatic leap in your repayments of as much as £583 a month (app. £6,996 a year on a typical £200,000 interest-only mortgage) as loss-making tracker mortgages on offer in 2007 begin to expire. Because of this, your rates could shoot up from 0% to as much as 3.5% if you default on your lender’s standard variable rate (SVR). On a £500,000 mortgage, you would be looking at a payment shock of £17,496! Economists believe the Bank of England will keep interest rates at 0.5% until autumn next year and because of this, mortgage lenders therefore said there was less pressure for borrowers to snap up a cheap fixed rate mortgage. If you are with the Halifax, then you face one of the biggest payment shocks of all! If you took out its market-leading deal at 0.51% below Bank rate in April and May 2007 you will revert to an SVR of 3.5%. Your monthly payments will rise from £667 to £1,001; that is an increase of £334 a month or £4,008 a year on a £200,000 repayment mortgage. Quote Link to comment Share on other sites More sharing options...
hev Posted July 30, 2009 Share Posted July 30, 2009 i have often wondered this, i concluded-children nag parents for toys -discount shoppers, see the queues in the cheaper shops are greatest -boredom, habit + addiction to shopping, depressives shop often i believe -they have yet to look at the apr on their card and think rates are down on plastic when opp is true usually I do have to shop for clothes ( job) and I like a bargain, I popped in to the much hyped 'next' sale, never seen such a load of tat in my life, I'm no fan but think Primark would probably have been better, anyway a good result on a pair of black smart trousers that will do a couple of nights out and then end up as a staple for work £6.50. Marks and Spencer, load of rubbish, the outlet shop does better, cheaper. Monsoon, I have noticed that their clothes are not as ornate as previous seasons and actually more wearable as day wear, a great dress in there day/night for £22.00, usually not even a t shirt in that shop under £30.00. Well, that's my seasons spend and I noticed an awful lot of herds, I mean families ambling through the shops, they didnt really seem to be spending. I also eavesdropped on a couple of Next employees saying what clothes they had stashed away untill they could pay for them, they were discussing how normally areas get searched for sale merchandise but this year the managers were not bothered due to the poor turn out in the sales. Quote Link to comment Share on other sites More sharing options...
mitchbux Posted July 30, 2009 Share Posted July 30, 2009 sweeping statement nonsenseAre you set for a tracker mortgage payment shock? by Mortgage Matron Tuesday 19 May, 2009 A few months ago tracker mortgages were practically extinct as lenders withdrew them just days before the first shock interest rate cut. Now as those pre-rate-cut tracker mortgages begin to expire, many of you with a tracker are in for a surprise! This is because you could face a payment shock of as much as £7,000 a year in the next two months. This comes even as the Bank of England suggests that the UK’s interest rates could remain low for quite a while. Mortgage lenders are now warning you to brace for a dramatic leap in your repayments of as much as £583 a month (app. £6,996 a year on a typical £200,000 interest-only mortgage) as loss-making tracker mortgages on offer in 2007 begin to expire. Because of this, your rates could shoot up from 0% to as much as 3.5% if you default on your lender’s standard variable rate (SVR). On a £500,000 mortgage, you would be looking at a payment shock of £17,496! Economists believe the Bank of England will keep interest rates at 0.5% until autumn next year and because of this, mortgage lenders therefore said there was less pressure for borrowers to snap up a cheap fixed rate mortgage. If you are with the Halifax, then you face one of the biggest payment shocks of all! If you took out its market-leading deal at 0.51% below Bank rate in April and May 2007 you will revert to an SVR of 3.5%. Your monthly payments will rise from £667 to £1,001; that is an increase of £334 a month or £4,008 a year on a £200,000 repayment mortgage. Our tracker is lifetime, no SVR for us Quote Link to comment Share on other sites More sharing options...
Bloo Loo Posted July 30, 2009 Share Posted July 30, 2009 Our tracker is lifetime, no SVR for us lets hope you are in the perfect house. Quote Link to comment Share on other sites More sharing options...
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