With the mainstream media constantly touting economic recession, unemployment, and spending cutbacks, it’s easy to believe the doom and gloom. However, I just got back from the malls this afternoon and it’s so far from the reality that was reported on the news. I’ve twittered what I saw in the malls in the past couple months. I still see people packing the malls, buying up a lot of stuff, eat at expensive restaurants1, and still spending on luxury goods2. I think the reality is so different here in Orange County, California. Or maybe, the residents here are still in denial about the slumping national economy. Perhaps the reality is that we have it well here in California, and we’re still able to continue living the good life.
After reading a few articles, apparently life is good outside California as well. Other towns are experiencing bustling local economy. Even Amazon is claiming best ever 2008 Christmas season for online shopping. I suppose consumers are still optimistic about the economy, and still willing to spend money in this otherwise “tough times”. Consumer spending is probably the ultimate bailout for this ailing economy. So I’ll go buy more stuff, and do my part to get out of this “recession”.
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hi Rudy,
I’m glad it’s busy in Orange County. Maybe you guys can help bail out Sacramento! I think my wife’s parents are single handedly trying to support the economy with all the Christmas presents they got for our kids.
That said, it doesn’t seem to be so busy up here. We went to Macys this week to return some stuff and it seemed very, very slow. Maybe everyone was busy taking down Christmas lights, but as I said in my other comment, I’ve got my fingers crossed for 2009.
~ Steve, aka “trade show displays”, the guru’s alter ego
Well, it had to be an OC phenomenon then, because all of the malls were packed.
This week (29th-2nd) will be the most quiet, I think. Everyone’s still out gallivanting in their vacations. Good for them: spend more money!
I think we can see that it makes sense that Amazon had a successful season, and is continuing its success during the following weeks. One might wonder whether a portion of the recessionary effects are being labeled as such due to jobs and services moving online, so that physical buildings are less needed to provide the same items. Amazon is in the continually-emerging market of the current period of time.
From the malls that I visited, it looks like people still prefer to see/touch/feel the products.