The current economy has caused many changes in the retail industry. People are struggling to buy the things they need and are losing jobs. This causes people to buy less luxury items. Retail stores such as Wal-mart are having better business, because of their discount prices. The average person is less likely to save up to buy a designer bag or dress. They are now more likely saving for more practical items.
The housing crisis is effecting the home retail industry greatly. Real estate prices are going down. The need for home goods are going down. Consumers are less worried about the look of their houses and more worried about how they are going to support their family through the financial crisis.
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1 comment:
Things are not too different in the UK but look to be progressing in the right direction. With this there have been opportunities for new retail jobs
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