Until the unemployment picture improves, consumers will be very cautious about their spending habits. We think the second half of the year could also be difficult for the retail industry unless the job demand improves.
More Quotes from Kurt Barnard:
The thing that drives retail sales most and best is job availability and the ease of obtaining new jobs. Both of these factors are absent at the present time. It may not be until the end of the year that we see job growth.Kurt Barnard
They were tepid. They give clear indication that Americans are far from ready to go on buying binges,
Kurt Barnard
If you stash money away in a savings account, then there's less available to buy things in a store, from candy to cars, ... This is not quite the conventional retrenchment we've known from past recessions, but it may represent a kind of wishy-washy stagnation.
Kurt Barnard
What Sept. 11 has done to the economy is to accelerate, hasten and deepen the decline, but the decline existed before. The attack gave it the extra push in terms of retail sales. If you don't have a paycheck coming in, it doesn't matter how much cost of gasoline has gone down.
Kurt Barnard
Some companies are rushing to take advantage of the situation and consumers may want to buy these war products as souvenirs. But as more time passes, the novelty factor of such products is also likely to diminish.
Kurt Barnard
Despite the fact that it's a clearance month, we can still see strong trends. People stayed away from department stores and they broke down the doors at discount stores.
Kurt Barnard
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