Stand by for a flood of small to medium sized retailers going to the wall. I got out of retail 3 years ago as the line between profit and loss making was too fine. Deflation on the way as retailers scrap to the bottom.
I agree, the big retailers will be able to discount and to use their size to survive. The squeeze on the small retailers is going to be punishing.
I wish Lidl had stock you could buy.
Some stores are still having sales, they call them ‘mid-season’ sales! These sales are not as widespread as those in the summer but the stores that don’t have any are mostly empty.
My local Dunnes has a Waterford Crystal section hastily erected where they are selling crystal reduced by 70%
sounds like a liquidation to me! Not sure who by though?
Walking around Dublin over the last 12 months, I haven’t once been able to avoid the word “Sale”.
It feels like no shops have lifted their sales.
Whose going to be paying the rents on the properties that Sean Fitzpatrick has lent loadsamoney on which according to himself is not property lending!!!
how much of it is due to people travelling across the border to shop. the pound sterling has fallen by 20 per cent since last year. its like living next door to a giant supermarket that has seen all its prices cut by 20pc. i know quite a few people who have travelled even from waterford to newry just to shop. the downside for northerners is that their inflation rate is rising fast while inflation is falling this side of the border. even so it will never be enough to cancel out the difference resulting from the 20pc fall in sterling against the euro. i cant see cross-border shopping ending until the euro falls aginst sterling if it ever does.
its a factor bert as is shopping online and in the usa but no idea how much of a factor but my guess would be smallish
A mate of mine in Belfast got his Sainsburys card cloned ( by Sainsburys ) and made sure that the cloned copies got to some Dubs who shop regularly in Newry .
He reckons christmas will be free this year and the Dubs get some specials cheaper than otherwise because they present a card every time in Sainsburys. It is what one would call a win win !!
Can we not turn all these empty warehouse type stores into homeless shelters?
Or how about a couple of 50m swimming pools and/or boxing rings?
I remember my trip to Croatia in 2003 – the areas of highest unemployment produced lots of top olympic athletes. Their rowing course in Zagreb is right in the middle of a Ballymun type area with loads of high-rise flats. Massive guys rowing up and down the course were to be seen every day (most of them on the dole).
Woodies DIY on the Malahide Road could be an excellent sporting facility for the people of Darndale.
Footfall is down 40-60%.
when you buy, say a camera or something like it, in a shop what fraction of the purchase price goes to the country it was bought from and how long is it before any currency change affects the price?
what i’m getting at is this:
say in mid 2007 a camera imported from Germany costs the same in a shop in dublin as an identical one does in a shop in belfast
then sterling falls 15 per cent againt the euro, which its now done
so, you’d expect the one in belfast to eventually increase 15 per cent in price to compensate for the 15 per cent fall in sterling (ok, i’m not a mathematician - i know its not 15 per cent exactly, but 17 or 18 per cent or whatever, some bright spark can work it out, but the point i’m making is the same)
but, how long is it before the belfast shop has to raise its price by an amount equivalent to the fall in their currency?
are we talking about months or years? do shops hedge against currency movements the way ryanair do with fuel (i think thats the term but i’m no expert)
then, who are the winners and losers in all this?
ok, clearly retailers south of the border lose out, and retailers north of the border are raking it in, at least until they have to put the price up to reflect the currency movement, which is what i was referring to above
but, what about the rest of us?
aren’t consumers south of the border winners, because they can now make a quick trip to Belfast and buy a camera 15 per cent less than they could a year ago (even if this is temporary until the belfast retailer puts the price up)
and aren’t consumers north of the border the ultimate losers, as they’re going to see the price of cameras imported from Germany eventually shoot up in price
is it all swings and roundabouts?