Economic Analysis

According to economic analysts it appears that we have a longer road to recovery than originally planned, in fact we may be waiting until well into 2010 until we see any significant improvements.

With several stores announcing closings, including Starbucks and Dillard’s, and several more announcing bankruptcies, it isn’t surprising that most retailers are bracing for the worst. There have been whispers through the employees of several retail companies of possible layoffs; hour’s being cut, and benefits and inventory cut backs. Corporations are striving to save wherever and however possible.

While several markets (including oil and gas) are showing skyrocketing profits, how is the average American coping with the economic hardship that we are all now facing. Typically, they are shopping less, and spending thriftier. It is a terrifying downwards spiral, as the consumer shops less; the retailers make less, and have more cut-backs… which leads to less money for employees.

Yet, despite the droop most retail has seen, the accessories online business has boomed. It is one of the few highlights in the otherwise dark economy. Most jewelry sales, specifically costume jewelry has been announcing record profits more that before the economy started to fall.

I’m guessing this is because most people know the best way to re-use clothes, is to change up the accessories. It is the easiest way to keep your wardrobe fresh and new, without spending a fortune. Click here for some really great Sale Accessories.

How has the economy affected you?

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