Our Planner Ian was rifling through the stock in the charity and fancy dress shops ahead of a forthcoming party this weekend and noticed the just how busy the shops were. After a bit of digging he found this nugget of information that seems to suggest that we'd be better looking to the footfall of our charity shops rather than the markets for indicators of the state of the economy.
"Middle class shoppers are pouncing on bargains in charity shops and searching for savings in value supermarkets as the credit crunch bites. Oxfam reports a sharp rise in browsers in its 729 stores. 'We have had an improvement in footfall and sales in the last quarter, if not a little bit longer,' said its deputy trading director, Barney Tallack. He said that just as in the 1991 recession, customer numbers are increasing - but it is sometimes hard to get the stock, as hard-pressed consumers hang on to their old clothes for a little longer. In another sign of tightening belts, Asda reports this weekend that a quarter of its sales growth in the past year has come from 'AB' shoppers - those in the top social classes. Chief executive Andy Bond said 'a tough economic climate means that more and more people are shopping for value'."
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