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geoffk

The Asian Shop Owners Know Its Coming..

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Iwent to a shop not far from i live but dont visit often last night and when i walk in it was threadbare so i said whats going on here then are you closing down (joking) his reply was "yes i am trying to get out as quick as i can" this guy is a really nice guy in his late 20s early thirties and always talks;so i asked why are you closing down? his answer was "if you cant see whats coming is a recession and i am feeling it bad"

I got talking to him about it all and it turns out he has bought a big house last year and was frightened so i asked him what his ltv was and he told me it was 70% so he really needs to get out of that shop (its quite a large one like a tesco express size) and then he might be ok...the asian shop keepers are not risk takers so i can see more closing.. I wished him well..

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Interesting. I'd never thought about these kind of shops being an economic indicator. I've just got back from my local Tesco Metro and was muttering all the way back that just a few items ended up costing almost £10. I was shocked. I know these places are more expensive than the supermarket 15 minutes away but I was always happy to pay a bit more for the convenience. I'm seriously reconsidering this now. Since I gave up smoking last year these places are getting less and less of my business and I'd imagine more and more of them will be struggling.

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I fear more for M&S. Went in there in the weekend and their prices made my eyes water. Even Tesco sell sea bass fillets these days, but they don't cost nearly 6 quid!

By comparison, whenever I go in Asda my shopping always costs less than I think it should.

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I fear more for M&S. Went in there in the weekend and their prices made my eyes water. Even Tesco sell sea bass fillets these days, but they don't cost nearly 6 quid!

By comparison, whenever I go in Asda my shopping always costs less than I think it should.

Morrisons and Asda are generally 20-30% cheaper than Tesco for my weekly shop. Wife, correctly, says they don't have all that Tesco has. On the other hand yesterday I got the vague feeling that Tesco are pruning their ranges a bit. May just be my local shop.

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Morrisons and Asda are generally 20-30% cheaper than Tesco for my weekly shop. Wife, correctly, says they don't have all that Tesco has. On the other hand yesterday I got the vague feeling that Tesco are pruning their ranges a bit. May just be my local shop.

Gotta be honest, I'm very disappointed with the food prices in ASDA...I get some foods in Waitrose that are cheaper than ASDA!!!

ASDA prices are going up like mad..and tesco...blumming heck.

Went into LIDL too....some the veg was too old to feed to pigs, and the prices, MY GOD, and they tell us they are cheap.

Sing of the times, now all the little local shops are gone, the supermarkets are scamming us all.....

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I'm quite well acquainted with a couple of independent corner shopkeepers. Both are really struggling and both are talking of relocating to India. However, with inflation rising in India this idea is becoming less attractive. Initially these shopkeepers began to feel the pinch four or five years ago, as Tesco began to monopolise the area and undercut them. It was at this point that the viability of the corner shop trade began to be discussed, as competing with the likes of Tesco was becoming almost impossible, and difficulties were compounded by the offspring of shop owners becoming far less willing to step into their elders footsteps, and instead had begun to choose careers in the professions.

Since the inception of the credit crisis things have gone from bad to worse. My local shopkeeper has said that takings are down fifty per cent in the past two months. This, combined with a rise in the price of food, has led to what he described as a bleak outlook. Indeed, wholesale prices of staples are so unstable that the shop owners have resorted to taping letters, from wholesalers informing of price rises, to the counters. Another interesting issue is the small margins that are made on tobacco and alcohol. Taxes are so punitive that there is a relatively greater margin to be made from selling a box of matches than a packet of fags or a bottle of rum. Up until recently profits were predominantly made from home cleaning products and tinned goods. However, the increase in the price of oil and the corresponding rise in the price of food has jeopardised these sources of income, as small shopkeepers are limited to the extent they can pass on cost increases to their customers.

One bloke I know, who has been in the business of selling high-end designer clothing for thirty years, last week told me that he hasn't sold an item of stock for five weeks. He says that he's never known anything like the current situation and will soon be closing down. Fortunately for him, he's approaching the age of retirement and has a nice nest egg put by. But yes, speaking to independent retailers, the situation looks bleak.

One thing that concerns me is the 'just in time' system we use in Britain. I understand that there is only ever three days supply of food in the country at any given time. If the economic crisis were to turn really bad, and bank failures became commonplace, then how could we guarantee that the shelves of supermarkets would remain stocked? Who was it who said that we are only nine meals away from anarchy?

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  • 399 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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