Really, it’s that important, and many retailers and shoppers need lessons.
This from an Associated Press article, as found in the Sept 10 issue of my local paper, The London Free Press:
The Great Recession and Americans' retreat into thriftiness are teaching retailers a new lesson: How to survive when consumers are focused on "needs" rather than "wants."
["Live in a small house": photo by GAHarrison]
My philosophy might not hit universities for a while because the Great Recession is doing a great job for now.
As the article said:
For years, shoppers splurged on everything from $5 lattes to $200 jeans, and retailers responded by opening more stores and offering more choices. Now, beset by high unemployment and limited access to credit, shoppers are limiting most of their purchases only to essentials or the best deals.
Which is not a bad thing, Great Recession or not.
The article tells what some retailers are doing - all good things - to survive.
"I don't think we are going to go back to business as usual," said Steve Sadove, chairman and CEO of Saks Inc., operator of Saks Fifth Avenue.
We can only hope. And then, there’s that university course I was talking about.
***
Save your money. Spend less. Hope for fresh air.
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