Marks and Spencer’s recent predictions of tough times ahead for retailing not only sent a shiver down their own share value but may prompt some concern amongst other retailers too, though the pet trade seems slightly less susceptible to difficult economic times . Despite the cost of living increasing, consumers are still spending and, it seems, so far unwilling to give up all of their luxuries.
It may be that we are facing a temporary slowdown, or heading for something much more serious, but what this behaviour does prove is that whatever the economy does in the future there is currently a window of opportunity for retailers to make the most of the consumer confidence that still exists; making it easier to weather any poor conditions they may face later. “With the possibility that we are heading for tougher economic times, this is the point to look ahead and at every area of the business to make sure it is working as hard as possible for you”, says Chris Nickson, Business Manager for 8 in 1 pet products. “At the moment it seems that consumers don’t want to give up their pleasures but, I suspect, are even more aware of seeking out quality and good value for money.”
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