The credit crunch is creating a new global hobby: trading down. People are cushioning the squeeze on their incomes by buying cheaper alternatives. This is already showing up in the results of food stores.

Well, that entirely buggers the argument that we\’re made miserable by having too many choices then, doesn\’t it?

7 thoughts on “Interesting”

  1. Interesting to see the many (and surely more to come) totems of the left being chucked and the previous bogey-mans being embraced.

    I guess we will know the circle has been completed when “tax incidence” is embraced by the many deniers.

  2. dearieme:

    I found it at least mildly interesting to find out, a few years back, that Aldi (which, for those not familiar, is a supermarket chain characterized by a Spartan absence of frills and convenience features and some of the very lowest prices to be found on stuff of comparable quality) actually manages to maintain profit margins (and returns) significantly higher—several times higher, in fact—then other supermarkets.

  3. gene, they have two other mighty advantages. (i) At our branch you can park very close to the store, so you needn’t push your trolley for miles and, in fact, we just push the trolley straight to the car and unload directly without any in-store faffing about with plastic bags. (ii) Very superior trolleys, which don’t have a will of their own and actually go where you want, and can be pushed by a full-sized male without bending into back-ache territory.

  4. Oop North where I used to live the cheapo supermarket was Netto. I don’t know if they saved my life but they probably saved me from kwashiorkor. You could get a white sliced loaf for 26p and beans were 7p a can. So for about 75p I could get a complete protein every day for a week.

    Tonight in memory of my poverty, I am eating filet mignon.

  5. David:

    I knew a guy who lived for quite some months on a half-loaf of bread (5 cents), a can of salmon (10 cents), and a cup of coffee (5 cents) till he’d saved $300 (during the Great Depression). Then, he signed on to work his passage to Japan on a Japanese freighter (which didn’t get there for almost 6 months, so he learned a fair amount of Japanese). After he’d spent over a year touring Japan (walkabout with a bit of ride-hitching), he still had so much money left that he went and did the same in Korea and China for another year and a half. He wrote “Yankee Hobo In the Orient,” which got serialized in “Reader’s Digest.”

Leave a Reply

Your email address will not be published. Required fields are marked *