What a Global economy really means

3 01 2009

My brother along with probably many other people did something that was very disturbing to me as a business connoisseur. My brother told me that he used the mall to window shop for his presents for christmas and actually purchasing them walking around on his Iphone.  The only bad point about shopping online is that it is so specific that if don’t know exactly what you are looking for Amazon.com can’t help you find it. That why it is perfect to use the mall for random ideas. 
So my brother was walking around King of Prussia Mall and he was using it to for the experience of shopping yet he was using his Iphone to find the best pricing on everything that he saw in the mall. Using the mall for ideas then buying everything online. Here’s where the crisis comes in–malls because of the insane rent they have to pay can’t compete because Amazon doesn’t have the overhead and passes the savings on to the customers. So my brother did his shopping at the malls expense. He used the store for the random ideas and to touch things and then used the global economy to save money. The worst part of this is that you saw all the huge sales before christmas to save themselves and he STILL found cheaper prices online.
Wait until the next financial meltdown hit thats going to make the Auto bailout seem small in comparison. The retail bankruptcies whole mall are going to go bankrupt and it will be bigger than GM as far as job losses and bigger than Chryslers financial losses by probably more than a factor of two. Here are some are some of the biggest in bankruptcy right now KB Toys, Circuit City, Boscov’s, Hollywood Video and Sharper Image and we have barely gotten into 2009.