Crisis Diary as it unfolds ….

It’s Boxing Day and Toronto is shopping

Ok, so this is completely anecdotal. I don’t even have any yesteryear’s experience to compare it with. But it didn’t look all that bad at Eaton Center, Toronto. It had no hint of recession, as if entire Toronto was shopping. The queue at check-out counter of Sears made me rethink on my decision to go out shopping, I got pushed and nudged couple of times at apparel section and I even had to wait for my turn at escalator.

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Well, I guess this doesn’t mean anything though. People were definitely out shopping, but that is that. It doesn’t mean they shopped for the same amount they are generally used to or if discounts were more this year to attract more shoppers.

Also, CNBC today reported that Amazon is having their best ever December sales. Part of it must be due to bad weather, but otherwise it is also because shoppers are looking for cheaper alternatives. Shoppers are more than willing to compromise the flexibility of feeling the product before buying it of the shelf of retail store for lower cost of online shopping. So the bottomline is …… grim.


December 26, 2008 - Posted by | Crisis Snapshot | , ,

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