Retail Economic Forecast...

I feel as a business owner it is important

to know whats going in the economy whether it affects you or not.

The economy has been failing for months going into the holidays and the reports are in...

Macy's down 4%

Gap down 14%

Neiman Marcus down 28%

Walmart up 1.7%

What does this mean?
Well depending on what you are selling it can mean nothing or it can mean so much. There is a known fact that many brand name companies today have grown and succeed during poor economic times. With this knowledge you can plan and budget 2009 sales more efficiently. No need to lower your prices and/or cheat yourself of profit but you should know what your consumers are thinking and feeling with a market now on its knees...

I have started this blog preaching the budget aspect and still I stand by it because if you budget correctly you will be able to withstand the hike in prices and other wild things that may happen this year, while still providing affordable quality handcrafted goods...

There was also mention during the holidays how many people were not shopping as they have done many years before. They were buying handmade items. Craft stores seen small spikes in sale as the holidays drew near, because as one customer said, "Its easier to make a gift a then to spend money that may not be there tomorrow..." This just comes to show you how things will change this year and how it can be better for crafters and sellers alike...

Keep up with me as we journey through 2009 and this failing economy.

Become a follower, see and read facts that may help you!