Christmas May not Increase Sales
In years past Christmas has been a time for retail shops to rejoice, even if the year has been slow. Unfortunately as the credit crunch gets worse in Ireland it could be the worst season in years. Credit cards are not going to be used this year by many consumers. They have too much debt, and the current interest rate hikes to Ireland credit cards is creating a problem.
Research by the KBC Bank and Economic Social Research Institute is showing that consumers will not be using their cards, and shop keepers have a lot to worry about. While the holiday will not be ignored it is thought that the credit card holders will shop for smaller items. They will also be getting less presents this year for friends. It will be about family gifts. There is no sign that this credit crunch will go away or that consumers will feel the necessity in shopping for things they don’t need.
There are many nervous consumers out there looking to avoid credit cards. The retailers are just as nervous. The big companies don’t have to worry as much as the family owned businesses, according to the study. The family owned businesses need the money to survive.
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