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Who's Sick Of Talking About The Economy?!
 
Location: BlogsVicki Vasil's Blog    
Posted by: Vicki Vasil 3/28/2008

 

Are we sick of talking about the economy already?

I've personally contributed to the recession by trading my Jeep for a Subaru, which means I'll be buying 50% less gas. I quit my gym membership because I have one in the complex where I live and one where I work. So BANG! $150 back in my pocket a month. Take that, flailing economy!

But really. The gym thing I was going to do anyway. And I'm a huge Al Gore fan, but the Jeep had to go long before I started mapping out my carbon footprint, anyway. Who can drive stick in ATL traffic? I realized I needed a better source for my assessment than my own finances.

ANYWAY, I started to wonder, with all this talk on the economy, what really is it affecting? Does a 27 cent increase in gas -- or whatever it is -- cause people to default on their mortgage or does it give them a Way Out? My thoughts, then, shift to my work. What about the action sports industry? The fashion industry? Resort spots? Are people still going to go to the beach? Are they selling their surfboard to pay for groceries? How far will this go?

I gave one of my friends a call to ask how their e-commerce site is going. At first, he said, the usual. The after-Christmas surge was nonexistent -- most likely an initial shrink-back instigated by the media's incessant dropping of the "R" word. A few weeks later, business started cranking again. An interesting note: the customers entered back by way of sale items, with decreasing caution, until finally they returned to gobbling up the latest spring footwear and lifestyle clothing. And the summer season, the wake and boating stuff? They're showing an increase from last year, even with ::GASP:: oil prices at a HUNDRED dollars a barrel!

I then turned to a friend from a larger, traditional company with 30+ years in the business. A tried-and-true, steady staple of a brand. Surely they would show a decrease. Nope. Warehouses are emptying out of last season's stuff and he also reported that their sales weren't down for the quarter.

Is the storm approaching or what? Will boats run out of gas by the end of the summer? Will milk rise to $5 a gallon? What's going to give first? Very little at all, we hope.

My personal, unprofessional opinion is that our customer is young. Sure, their parents buy things for them too. And yes, sometomes middle-aged doctors buy skate shoes because they're comfortable. But the core customer is only minimally affected by the crashing real estate market and rising oil barrels!

I just ordered a board from Sector 9 to skate to the train instead of driving to work. I thought my decision was based on the fact that traffic sucks in Atlanta -- especially after a tornado ripped a path a quarter mile from my place. Bu who knows? Maybe I really am "suffering a hit." Perhaps I'm in denial that this whole economy thing is affecting me. There is that 401K that hurts to look at. But it's all cyclic! It will turn back up! Right?! I digress.

Initial reports show our industries have not yet suffered. History shows boardsports resilience in recessions in past decades. On our trade-show end, booths are being booked for September like any other. Retailers are on the phone with our Buyer Relations staff all the time. We've got new events and ideas in store. Fingers crossed, we're doing our part to make sure people still go to the coast for vacation, skate to school ,and surf every time there's a swell that hits the coast.

 

 

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