posted on September 27, 2001 03:30:48 AM new
Are you going to be listing a lot for Christmas? I bought a batch of vintage decorations which have really started to move in the last few days. Apparently people are beginning to think about the upcoming season.
I shop for Christmas all year, and have been getting some great bargains during this recent slump. I'm wondering if people will shop much this year.
They did a survey for our newspaper this week, and most people said either they were spending like always, not cutting back, or they had already cut back because of their personal 'recessions', before recent events. (Austin has had a LOT of layoffs due to the cutbacks in the technology area. And more on the way-a company with 3 plants in this area is closing. I'm afraid the only business I get will be online, not local!)
posted on September 27, 2001 05:35:02 AM new
In addition we've already had 100,000 airline layoffs since 9/11. Analysts are also projecting a 1/2 million travel industry related layoffs as a result of the events. First technology imploded and now the rest of the economy. Where will the buyers be coming from?
posted on September 27, 2001 10:45:44 AM new
They'll be there but just in greatly reduced numbers. The huge crowds at the malls will just be large crowds and the number and value of their parcels they are carrying with be less.
posted on September 27, 2001 03:55:40 PM new
Consumer spending will be down overall. But I don't think spending on auctions will be down much, if at all. Why? Because money-conscious buyers will be looking for deals. Auctions are a great alternative in a slow economy. Why buy Monopoly Junior brand new at $24.99 when one yahoo seller is selling it BIN for $8.99 like new?
IMO, we'll be seeing a lotta new buyers this Xmas season who are looking to save money and trim *retail* spending by giving auctions a try. I guess we shall see!
posted on September 27, 2001 10:20:56 PM new
One of the reasons online auctions became so popular was that people got in the habit of shopping at them. With a tight money supply people may get out of the habit and not resume that habit when better financial days return. I hope that doesn't happen.
posted on September 28, 2001 01:21:02 AM new
I agree with olhickory. Sellers of quality new & used items at bargain prices will come out of this OK. Used toys, clothes, car parts, videos, books, etc- people don't stop needing these things even in times of recession.
I think people will still buy Christmas presents- say if they would normally spend $100 on a gift, they'll might only spend $75 right now, but they'll still buy.
posted on September 28, 2001 04:31:56 AM new
I'm going to agree with that. People will still shop, but they will look for the best deals. I have already started scouring the auctions for the best deals on the items my family collects. And guess where I find them? Not at the antique malls, where they would rather eat dirt than lower their prices. But online, particulary on Yahoo and Bidville, but even on Ebay to some extent.
This sounds like you won't be making any money, and profit margin probably will be less. But you will also have buyers getting into the habit of coming to Yahoo and Bidville to shop. When the economy picks up, you'll have built a loyal following.
So it ain't all bad for us! Keep listing quality items at reasonable prices, and you'll ultimately come out ahead.
