The Dow Jones took another major hit this morning. Down another 2,000 points until trading was halted. When trading was allowed again the market continued a downward spiral, then up a bit, then began a roller coaster ride for another day. On a personal note, those of us who saved all our lives are holding our collective breaths as we watch our funds ghosting away.
More major events cancelling, attendance restrictions, school closings, scary news everywhere.
Two financial experts interviewed on CNN when asked if a USA recession is possible both stated a world wide recession has already begun. Expect the USA to be involved and expect gov bailouts to not be enough and not soon enough.
So, with all this scary news, sellers can expect buyers to scale back their spending and probably focus on necessary items before other purchases.
However, as with the last economic crisis, buyers did continue to purchase online and will do so now.
The question is, where do your items fall between necessary purchases and discretionary, feel good wants? Will you acquire additional inventory that will appeal to those who choose to stay home more? Will your inventory be relevant to the buyer market?
Not fear mongering or dramatizing anything here. Just wondering if other sellers, like myself, are considering if current inventory needs to be tweaked and how my business can best survive a long term economic downturn.
Thoughts?
