Like many of you, I spend a great deal of time talking to people.  I have the good fortune of having the ear of a great number of thoughtful, interesting people with diverse interests, beliefs and opinions.  Here is what they had to say in the past few days:

1.    One North Carolinian told me that while there were still lots of people visiting Walmart in her small town, she observed comparatively few were buying.

2.    A New Yorker told me that traffic in a high-end mall in his neighborhood was down significantly.

3.    A ‘Best Buy’ sales clerk in Toronto told me that customer traffic is down significantly in the store she works in, although she attributed it to seasonality.

4.    I have been told that beginning in September Walmart and Sears both began discounting the price of Christmas toys.  If that is true it doesn’t auger well.

As I am sure you know, retailers depend on last calendar quarter trade to generate most of their annual profit.  The Friday after American Thanksgiving (which always is on a Thursday) traditionally is the largest retail-shopping day in the U.S.  If this year that Friday shopping day sees significantly reduced sales, watch out – the ripple effect likely will be something to behold.  If you don’t do it on a regular basis, I suggest you do your own ‘consumer spending’ research at a ‘sales clerk’ ‘grass roots level’.  I find these people willing to talk openly if questions are asked in a non-threatening way.

The views expressed in this Post are those of the author. They are offered to readers for information and general guidance only. They are neither intended to, nor should be taken to, constitute economic or investment advice. See Legal Disclaimer.

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