GrandCaravanSE
Active Member
What step is this then?
Black Friday sales up 3% over last year
- Thread starter jimpeel
- Start date
What step is this then?
spike
New Member
His first sentence was "So where is this recession?".
GrandCaravanSE
Active Member
Whos sentence?
2minkey
bootlicker
and i would have known that had i read his spew more closely, but, you know, i just can't do that to myself anymore.
BeardofPants
New Member
I think stabbing eyeballs would likely be more fun that reading this "no recession" drivel.
GrandCaravanSE
Active Member
jimpeel
Well-Known Member
If I was arguing the recession I would either revive the recession thread or start another; but the name of the board is off topic central so you just keep yanking the thread off topic and I'll try to bring it back on topic.
jimpeel
Well-Known Member
Yes, I mentioned the recession because there was plenty of free money on Black Friday. It was after that posting that the recession was declared "official" about three days ago. I still have yet to see the obligatory two quarters of NEGATIVE growth. Apparently, REDUCED growth now applies because so far we STILL have only had ONE quarter of NEGATIVE growth.
GrandCaravanSE
Active Member
Ahh i see i must have skipped right over it.
jimpeel
Well-Known Member
I'm going to try to track my sales over the next month to see how the spending habits change at my store. Credit seems to be around 50% of sales right now. Let's see how it progresses.
So here's how the sales on my register panned out today 12-07-2008:
Credit as a percentage of total ... 50.39%
So here's how the sales on my register panned out today 12-07-2008:
Credit as a percentage of total ... 50.39%
GrandCaravanSE
Active Member
What type of store do you own.
jimpeel
Well-Known Member
I work for Wal-Mart as a cashier so I have a pretty good view of how spending habits may change.
GrandCaravanSE
Active Member
Ah, i see at the store i work at i noticed people useing cash or debt instead of Credit.
jimpeel
Well-Known Member
Thus my question as to why, if credit is so hard to get, people still using credit? If people are so cash strapped, why are they using cash, debit, and checks?
I believe that much of the "meltdown" is manufactured, and spoon-fed to the masses, by the MSM.
MrBishop
Well-Known Member
When they speak credit, they're talking larger scale items than buying a DVD for $4.99 - It's credit between financial institutions that are problematic. If banks won't lend to each other for overnight loans, or short-term loans, then THEIR liquidity and ability to make money through investments is an issue.
This affects mortgage and car loans, small business loans and expansion loans...the meat of the credit issue.
People/individuals still ahve the same credit cards and habits on spending cash over credit..you will likely see no difference in average of one over the other. When people start losing their jobs or have their hours changed is where you'll see a difference. The types of shops people go to, as well as how many new items people buy will shift towards the thriftier stores instead of the mid-range enterprises. More money for Walmart, less for Banana Republic and Gap.
Inkara1
Well-Known Member
I would hope that most people aren't charging their groceries. Wal-Mart is a different kind of store and bigger-ticket items are bought there.
jimpeel
Well-Known Member
Those who charge their groceries to their credit card are usually those who pay off the card every month -- the "freeloaders" as the CC companies call them.