Possibility of More Retailers Going Bust
We have heard and read of more and more shops going bust, and as I, and others, have said, this is not over yet.
With the Christmas holiday now behind us, we may see more shops/stores going bust. If the stores did not have a good holiday season, they will still be in the same predicament they were in before, and soon the say of financial reckoning will come.
More Retail News
While we keep hearing of the closing up or liquidation of many shops, there are some shops that seem to be doing OK.
Sainsbury reported they had their ‘best Christmas ever’ even though it wasn’t the best for many other shops.
Personally I don’t shop regularly at Sainsbury, mainly as there isn’t one close to me. I have been in their shops on two occasions, but that’s it. Maybe I need to make the trek to one to see what they have. They are Britain’s second largest food chain.
Also, Greggs the bakery retailer stated they saw sales rise over the Christmas period as well. They attributed this to their new ‘sweet mince pies’ of which they sold over 7.5 million.
Whoaa, that’s a lot of mince pies. I’m not a fan of mince pies, nor am I of sweet pies, so for me, I don’t think a sweet mince pie would do it. But for 7.5 million of us, it did.
Greggs has had quite an expansion over this past year. They have 1,571 shops, and added 84 new shops during the 2011 year. This expansion created 800 new jobs, which is a very good thing for all of us.
M&S also stated it was their food department that helped their sales over the Christmas holiday. Their food sales had a slight increase in the run-up to Christmas, while their general merchandise sales slumped, but overall, they had an increase due to the food sales.
And we all need to eat, so food or grocery shops should continue to do well; the issue is the competition, the number of large food shops out there.
It is quite a competitive industry, and we as the customer, can benefit from this.
If you see the ad wars that have gone on between Asda and Tesco you know what I mean.
There is a lot of money being discussed here, as I mentioned, we all need to eat, and want to eat well, yet as cheaply as possible. And if you are feeding a family, then you know how costly it can be.
For me, it is just about feeding myself and my partner, so we can be a bit extravagant in our food shopping. But when the rest of the family are over to eat, and you have to feed the grandkids and their parents and through in an extra mouth or two and it really begins to add up.
So the food wars will always go on, and the shops will continue to want to lure us to their savings deals.