Do you want to be in retail in 2009?
While we currently try to purchase the final Christmas gifts, the management of those retail outlets we are frequenting are starting to worry about what will happen in 2009.
Four interest rate cuts in the past months have helped the consumers with their mortgages, another help came to many families with the Rudd year end gift. But what happens next year?
Many analysts believe that we will not see any recovery in the sector until at least 2010. And the big retailers are already sending out signs, that they will have to execute lay-offs and closures of stores, such as announced by Harvey Norman’s chairman.
The forecast is that the first wave of businesses will start going out of business between January and June next year. Which leaves the question of how we could get around this: another interest rate cut is imminent, whether the consumer spends this free cash with confidence is the real unknown.
Shopping in Melbourne
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