For us, its been a mixed bag. We've had record sales, but not necessarily record profits - hike in shipping costs, fees all around, exchange rates... just, ouch. Plus, Featherfall is definitely a luxury industry -- and like you pointed out, people aren't really spending on luxuries at the moment. Art, sadly, is not an essential.
Another thing we've noticed at least - its the increased need for layaway, or credit. Frankly - I'm very conservative on that, and I have a limited cash flow and operated budget. I can't offer long term credit, since I'm left fronting the cash -- and in some case, stuck holding the products, even though the deposit is non refundable. Right now, to give you an example, there were several people outright whining about how unreasonable we are by only giving 2 months layaway. *cough*
I think part is the economy crunch, the other people's obsession with 'charging' everything to credit. Sooner or later, it catches up, and for several of our customers lately that's exactly what's been happening. ;)
Its not just internet business either -- all the local retail shops are going nuts with sales -- the upscale ones around my parent's neighboorhood were having sales of 50%-70% and even so the staff was complaning about how low the sales have been.
Its definitely needed a change in strategies for us - more going for the sure sale items, rather than trying out new artisans and products, which is one of the things I love to do at FF. We simply can't take the gamble at the moment!
Feast or famine indeed - and now we've got a mortgage to worry about too, so certainly curtailing pretty much any personal spending.
*L* about my pay notification, thank you for the laugh m'dear. XD I probably should put up more updated things, haven't had the time. and its definitely NOT that you're failing, its just the way things are at the moment. <3
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timeasmymeasure
no subject
Date: 2008-07-07 07:55 pm (UTC)We've had record sales, but not necessarily record profits - hike in shipping costs, fees all around, exchange rates... just, ouch. Plus, Featherfall is definitely a luxury industry -- and like you pointed out, people aren't really spending on luxuries at the moment. Art, sadly, is not an essential.
Another thing we've noticed at least - its the increased need for layaway, or credit. Frankly - I'm very conservative on that, and I have a limited cash flow and operated budget. I can't offer long term credit, since I'm left fronting the cash -- and in some case, stuck holding the products, even though the deposit is non refundable. Right now, to give you an example, there were several people outright whining about how unreasonable we are by only giving 2 months layaway. *cough*
I think part is the economy crunch, the other people's obsession with 'charging' everything to credit. Sooner or later, it catches up, and for several of our customers lately that's exactly what's been happening. ;)
Its not just internet business either -- all the local retail shops are going nuts with sales -- the upscale ones around my parent's neighboorhood were having sales of 50%-70% and even so the staff was complaning about how low the sales have been.
Its definitely needed a change in strategies for us - more going for the sure sale items, rather than trying out new artisans and products, which is one of the things I love to do at FF. We simply can't take the gamble at the moment!
Feast or famine indeed - and now we've got a mortgage to worry about too, so certainly curtailing pretty much any personal spending.
*L* about my pay notification, thank you for the laugh m'dear. XD I probably should put up more updated things, haven't had the time. and its definitely NOT that you're failing, its just the way things are at the moment. <3