But should we care if we disappoint North America’s three biggest retailers?
I say no. (I say instead, oh, boo hoo, boo hoo).
I say a meaningful recession, a retreat form 65 years of over-consumption is more important than the news that Walmart Stores Inc., Home Depot Inc. and Sears Canada Inc. each posted lower-than-expected same-store sales (a common measure of performance) recently.
["Slow down the shopping"]
Here is what Michael Antecol, director of the marketing research, said about the recent drop in sales.
“Canadian consumer confidence took a big hit earlier this summer as negative headlines filled the business pages.”
“The fact of the matter is any recovery is going to be consumer led,” he said. “And if consumers don’t start spending and if they just sit on their wallets, it’s never going to happen.” (Aug. 18, London Free Press)
I say in my most recent column that something far more important that positive retail results will come about if people (note I didn’t say ‘consumers’; we’re more important than that) keep “their cold hard cash tucked safely inside their wallets, purses and savings accounts.”
I say that people can “change the rate of (global) warming. A purposeful retreat from over-consumption (in other words, a meaningful recession) would have a big payoff globally if the warming engines of coal and oil were kept turned-down-low for a longer period of time."
["Speed up the inexpensive hobby"]
No small thing compared to Wal-mart profits.
When I read about slowdowns in retail sales I think that people are reading and heeding my comments. (It only slowly dawns on me that ‘it’s not all about me.’)
Maybe we’re tired of our credit card debt and monthly payments.
Maybe we’re just tired of spending money as if the economy depends on it.
Maybe our consumption habits are due for a big change.
***
What do you think?
Should we drive the economy more slowly, more sustainably?
Maybe clean out the garage and basement and hold a gigantic yard sale?
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