The usual holiday cheer that underpins the throngs of shoppers may be missing this season. Political pundits are eager to blame potential terrorist risks as a compelling reason to avoid the crowds at malls, but knowing the sentiments of the consumer culture, it is difficult to accept that retail businesses will be empty. Nevertheless, will the economy incentivize the bargain hunters to brave the added security obstacles to storm the doors for the reward of super discount pricing?
The expected immediate shock in France is understandable. Xmas sales plummet, Champs-Elysees empty in edgy post-attack Paris, indicates that upscale customers respond predictably.
“Department stores half-empty when they should be packed and a Christmas market on the prestigious Champs-Elysees avenue where vendors outnumber the visitors — the attacks on Paris are having a profound effect on retail business.”
Notwithstanding, Forbes makes an obvious point in the column, The Paris Attacks And The Economic Impact Of Terrorism.
“Consider the fragility of both European economies and the institutions underpinning the European Union. The euro zone grew by a meager 0.3% in the third quarter, well below expectations. And last week’s attacks may do some real damage to current spending, keeping shoppers away from crowded retail parks in the lead-up to the busiest month of the year.”
Continue reading “Grinch that stole Christmas”
