"a mixed regional unemployment picture may cause consumers to pause before whipping out their wallets. "
We surely should expect the economy to get better so that people would get their purchasing back. But we should also make sure that we don't spend the money we don't have. We have been living in a consumerism society where people use to buy more than they need and can afford. It is about time we changed our behaviour. We should learn to be happy when we already have the essential things.
"We have been living in a consumerism society where people use to buy more than they need and can afford." Thatissotrue,almostalltheworldwasbuiltonthis.Butthisconcernhasn'ttodowiththecrisisinEurope.Politicalauthoritiesgavetoomuchpowerandcontroltothemarkets,andnowtheyaretryingtobalanceinaveryunstableenvironment.EconomiccrisisalsoshowsusthattherearehugeholesintheEurobuilding.
@Jennifer, Here in England, I'll be watching carefully what I buy. I love electronics and the economy behind it and my kids do too but right now I am focused on what we can afford than what we would like. As the blog noted, when you are in a hole, stop digging. All of Europe needs to hearken.
Jennifer you are right. Thanks giving day and Christmas seasons are the peak time for all types of business, especially for electronic gadgets. But this time there is a cloudy situation due to the slow down economic scenario and increased unemployment rate. This is true in most of the US/European and Asian countries.
@Anna.Good point and good decision too. Sometimes it good to use only what is good enought and not what is best.If we all have to use what is best for us based on the level of income and our societal status,things may really go bad.
We have been living in a consumerism society where people use to buy more than they need and can afford.
@Hospice_Houngbo, very true and that is the reason I never believed in owning a credit card, because credit card encourages you to buy eventhough you dont have money in your pocket.
@Nemos, We cannot just blame political authorities for this mess. Greedy corporate honchos are also responsbile for this mess. I think this quarter sales number are very crucial as this will determine the future of the markets.
Even though spending on large ticket items is down dramatically I reckon Christmas spending will be bright as usual as we all need to have some festive cheer in these doom and gloom times.
EBN Dialogue enables and encourages you to participate in live chats with notable leaders and luminaries. Not only editors and journalists, but the entire EBN community is able to comment and ask questions. Listed below are upcoming and archived chats.
Archived Dialogues
Thailand Stages a Comeback Join EBN contributor Jennifer Baljko on Thursday August 23, 2012, at 11:00 a.m. EST for a live chat on how electronic manufacturers in Thailand have shored up their supply chain to reduce the impact of future natural disasters.
Euro-Crisis: What It Means for High-Tech Firms Join EBN Editor in Chief Bolaji Ojo and Contributing Editor Jennifer Baljko on Thursday, July 12, at 10:00 a.m. EDT for a Live Chat on high-tech and Europe's economic difficulties.
Microsoft Surface: Potential Winners & Losers What are the implications for the electronics industry supply chain of Microsoft Corp.'s decision to launch its own tablet PC? Join industry veteran and EE Times' systems and OEM expert Rick Merritt on Tuesday, July 3, at 12:00 pm EDT for a Live Chat on this subject.
Join EBN contributor Jennifer Baljko on Thursday August 23, 2012, at 11:00 a.m. EST for a live chat on how electronic manufacturers in Thailand have shored up their supply chain to reduce the impact of future natural disasters.
Peter Drucker famously said "Trying to predict the future is like trying to drive down a country road at night with no lights while looking out the back window." Yet in the razor's-edge world of electronics—with a lean supply chain and just-in-time demands—the need to know the future is vital.
While no one really can accurately predict the future, we can take guidance from another Drucker saying which is the best way to predict the future is to create it.
You've heard the saying "the No. 1 supply chain risk is your people." That hasn't always been the case. But today's complex global supply chain requires a new type of multitalented employee. It's one who understands, finance, marketing, economics, is savvy with technology, graceful with relationships and can think analytically.
Where are these people? Are universities properly preparing the next generation supply chain professionals? How do train your existing workforce for these new, demanding positions?
Brian Fuller, editor-in-chief of EBN, will lead a 60-minute Avnet Velocity panel discussion that will ask and answer these and other questions swirling around today's supply-chain talent challenges.
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