Magazines Archives - 2008 November

Holiday sales: How much of this will be washed out by the economic storm?
Story 1 - One Viewpoint

The raging US credit crunch dragging the world into financial turmoil has sent Asian financial markets reeling and stock indices plummeting to multiyear lows. Economies in the region now face a worse-than-gloomy outlook, with many on the brink of recession. Consumer confidence has in turn taken flight, plunging consumer markets into grave uncertainties. Just how badly will this maul the year-end holiday day shopping — typically a major retail season? Clearly, much depends on how the financial mayhem pans out.
Glimpses of the likely scenarios may be gleaned from recent surveys back at the source and epicentre of this global crisis — the US consumer market. By Steven HL Goh

Steven HL Goh is the executive chairman of RETAIL ASIA. He is also the CEO of The Business Company, a consulting firm advising multinational retailers on retail strategies and business development opportunities in the Asia-Pacific.

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