[Misc] How do you feel about spending at the moment?

[Knocky's Nose]

Just a curious question as I'm a bit flummoxed at present!

I'm closing my business down, which I've previously mentioned on here, and used to (and technically still do until all my stock is sold) deal in high end audio-visual products. So, not 'essential purchases' so to speak.

I slashed the prices of my remaining stock just to get it all gone and it was flying out the door at knock down prices.. Then, about 2 weeks ago... Marie Celeste. It went as quiet as the Meerkats off of the Go Compare adverts when the Russians kicked off. I keep hacking the prices down and now they're at ludicrous levels, but still.. nothing! I'm literally advertising things at less than half of what I was getting 6 months ago, and literally no interest.

Whilst I've been looking at a new (used, but new to me) car I'm also seeing lumps being hacked off the prices of cars I've been watching for weeks, and I'm also getting people in various industries saying it's all gone flat.

So, is it just one of those things where it's gone quiet all round as part of a 'cycle' and it'll pick up again - or are we all genuinely worried about Ukraine, oil prices, food prices and so on and are loathe to spend money on anything but the absolute essentials, even if we can actually afford things?

 

[swindonseagull]

Just a curious question as I'm a bit flummoxed at present!

I'm closing my business down, which I've previously mentioned on here, and used to (and technically still do until all my stock is sold) deal in high end audio-visual products. So, not 'essential purchases' so to speak.

I slashed the prices of my remaining stock just to get it all gone and it was flying out the door at knock down prices.. Then, about 2 weeks ago... Marie Celeste. It went as quiet as the Meerkats off of the Go Compare adverts when the Russians kicked off. I keep hacking the prices down and now they're at ludicrous levels, but still.. nothing! I'm literally advertising things at less than half of what I was getting 6 months ago, and literally no interest.

Whilst I've been looking at a new (used, but new to me) car I'm also seeing lumps being hacked off the prices of cars I've been watching for weeks, and I'm also getting people in various industries saying it's all gone flat.

So, is it just one of those things where it's gone quiet all round as part of a 'cycle' and it'll pick up again - or are we all genuinely worried about Ukraine, oil prices, food prices and so on and are loathe to spend money on anything but the absolute essentials, even if we can actually afford things?

Have you got a website? my Bose surround sound has died.(lifestyle 48)

 

[Weststander]

Imho it’s the cost of living.

A couple of weeks ago there was a key Martin Lewis ITV prog, where he spelt out the elec/gas situation. It was something like a 57% average increase on 1 April to £1,900, heading towards £4,100 on 1 October.

These are vast dents in the average household’s net available funds each month.

Grocery costs have been steadily creeping up, a lot, especially if you don’t stick to the unrealistic basics basket of goods.

Then council tax, home water, car fuel.

People, like businesses in recessions, will seek to preserve cash. Or they simply have none.


But it’s a very mixed picture. I know many people making shed loads of money in various sectors eg building trades, also people who retired with incredible index linked pensions in their 50’s. Holiday expenditure through the roof.

 

[Knocky's Nose]

Have you got a website? my Bose surround sound has died.(lifestyle 48)

It's Bang & Olufsen I deal in, and to be honest I don't have much left in the way of Music Systems - only Televisions..

I did once launch a pre-owned Bose website, looking to specialise in it! It was live for maybe 3 days, then the Bose legal department sent me a 'cease and desist' type legal letter threatening to sue the arse off me if I didn't pull it immediately

I'd recommend Sonos now. It might not look ultra-stylish but it works properly and sounds really good..

 

[swindonseagull]

It's Bang & Olufsen I deal in, and to be honest I don't have much left in the way of Music Systems - only Televisions..

I did once launch a pre-owned Bose website, looking to specialise in it! It was live for maybe 3 days, then the Bose legal department sent me a 'cease and desist' type legal letter threatening to sue the arse off me if I didn't pull it immediately

I'd recommend Sonos now. It might not look ultra-stylish but it works properly and sounds really good..

Thanks

Im not willing to part with the £1000's tha Bose want....the lifestyle 48 was a Raffle win!!

 

[bobby baxter]

Imho it’s the cost of living.

A couple of weeks ago there was a key Martin Lewis ITV prog, where he spelt out the elec/gas situation. It was something like a 57% average increase on 1 April to £1,900, heading towards £4,100 on 1 October.

These are vast dents in the average household’s net available funds each month.

Grocery costs have been steadily creeping up, a lot, especially if you don’t stick to the unrealistic basics basket of goods.

Then council tax, home water, car fuel.

People, like businesses in recessions, will seek to preserve cash. Or they simply have none.


But it’s a very mixed picture. I know many people making shed loads of money in various sectors eg building trades, also people who retired with incredible pensions in their 50’s index linked. Holiday expenditure through the roof.

This..spoke to a builder mate this afternoon, he told me he was in Kent this morning for 4 hour roofing job for which he trousered £600, cash of course.

Very nice.

 

[B-right-on]

Just a curious question as I'm a bit flummoxed at present!

I'm closing my business down, which I've previously mentioned on here, and used to (and technically still do until all my stock is sold) deal in high end audio-visual products. So, not 'essential purchases' so to speak.

I slashed the prices of my remaining stock just to get it all gone and it was flying out the door at knock down prices.. Then, about 2 weeks ago... Marie Celeste. It went as quiet as the Meerkats off of the Go Compare adverts when the Russians kicked off. I keep hacking the prices down and now they're at ludicrous levels, but still.. nothing! I'm literally advertising things at less than half of what I was getting 6 months ago, and literally no interest.

Whilst I've been looking at a new (used, but new to me) car I'm also seeing lumps being hacked off the prices of cars I've been watching for weeks, and I'm also getting people in various industries saying it's all gone flat.

So, is it just one of those things where it's gone quiet all round as part of a 'cycle' and it'll pick up again - or are we all genuinely worried about Ukraine, oil prices, food prices and so on and are loathe to spend money on anything but the absolute essentials, even if we can actually afford things?

I think give it a few weeks and once the Ukraine situation has been resolved, confidence will come back up and consumer spending will start again. But we are in for a few rocky years imo. With all the Central Bank money printing, inflation will rise and the BofE, FED, ECB etc.. will have to raise rates to curb it which will hit even harder. Its time to pay the piper for all the rash spending over the last decades by successive irresponsible Govts.

 

[Stat Brother]

Nice job of circumventing the advertising rule!! lol:


Televisions you say.
What have you got that's decent, not all bells and whistles, in the mid to upper 40 inch range?

 

[zefarelly]

I'll second Sonos!

I changed jobs November/Dec. Purely my choice, a work/life thing, closer to home and the pay cut offset by travel costs.

In 3 months I've sold my car, at a profit! saved£700 in fuel and the world has gone several rungs further down the bonkers can it get any worse ladder. . . . THe only major commuting expense is additional hunger.

my income is static for the forseeable. Our bills have gone up £200 a month since November (or will do in April) so whilst I have ideas about luxury items, It's not a viable expenditure at present.

Like you Knocky, my business was very much luxury end . . . now its just an occaisional hobby job . . .thats frankly all the business that's there. It does/should help fund my ridiculous hobby.

Life goes on as normal(ish) but I see things getting worse still before they plateau, and I don't currently see any improvement on the horizon. At least not until Boris and Putin are ash.

 

[Guinness Boy]

Another Sonos fan here.

I'm certainly not going to buy anything unnecessary for a while. We were thinking of getting a new kitchen but given that energy bills might hit 4k a year by October we wouldn't be able to heat it or power the cooker if we got it.

It's an odd position. Every day essentials that are in the "basket" that's used to calculate inflation are increasing in price like Topsy while people like the OP are having to slash the costs of luxury goods. Then there are things like holidays and good meals out where people are prepared to pay again because they've missed out on them for the last 2 years.

 

[Gwylan]

Imho it’s the cost of living.

A couple of weeks ago there was a key Martin Lewis ITV prog, where he spelt out the elec/gas situation. It was something like a 57% average increase on 1 April to £1,900, heading towards £4,100 on 1 October.

I'd love a 57% increase in elec/gas. My bill is going up from £90 to £310 a month - that's a 244% increase.

I'm cancelling Sky, all my subscriptions and any luxuries for the time being. I'm staying well away from any special offers - it's essential purchases only now

 

[Bry Nylon]

Battening down the spending hatches here.

Ordered some heating oil last week. Previous delivery was £400. Was quoted £800+ for the same quantity this Spring. Plus massive NI hike and Council Tax rises to come next month plus big increases in grocery bills and fuel for the car. It’s going to be rough year ahead so far as managing to carve out any disposable income for discretionary spending. I’ve a couple of projects on the go outside of work that I’m trying to monetise so it’s just a question of keeping going.

 

[Thunder Bolt]

Council tax bills have just arrived, food prices, fuel up, energy companies sending forecasts for the next 12 months, so it’s no wonder people are cautious about spending.

 

[Knocky's Nose]

Okay, so this is a long-term thing by the looks of it... A 'mindset shift' if you like. A bit depressing, but as many people have said - it's been coming for a while now.

What 'luxuries' do people see as justified these days? Holidays seems to be one, but beyond that?

Also, sorry if it appeared I was 'advertising'. That was genuinely the very last thing on my mind, and not something I'm looking to do!!

 

[South Stand Bonfire]

I think give it a few weeks and once the Ukraine situation has been resolved, confidence will come back up and consumer spending will start again. But we are in for a few rocky years imo. With all the Central Bank money printing, inflation will rise and the BofE, FED, ECB etc.. will have to raise rates to curb it which will hit even harder. Its time to pay the piper for all the rash spending over the last decades by successive irresponsible Govts.

I unfortunately don’t think the consequences of the high energy prices have hit home yet. Mine have doubled in the last two months and that’s just the start of it and I am luckily stable financially. Inflation is rampant in the construction industry which, if it leads to a slow down in developments, does not fare well in them wider economy. I’m not saying a recession will happen, but it is a risk imo.

 

[Kinky Gerbil]

Imho it’s the cost of living.

A couple of weeks ago there was a key Martin Lewis ITV prog, where he spelt out the elec/gas situation. It was something like a 57% average increase on 1 April to £1,900, heading towards £4,100 on 1 October.

These are vast dents in the average household’s net available funds each month.

Grocery costs have been steadily creeping up, a lot, especially if you don’t stick to the unrealistic basics basket of goods.

Then council tax, home water, car fuel.

People, like businesses in recessions, will seek to preserve cash. Or they simply have none.


But it’s a very mixed picture. I know many people making shed loads of money in various sectors eg building trades, also people who retired with incredible index linked pensions in their 50’s. Holiday expenditure through the roof.

Don’t forget the paying back for the 2 years of lockdowns.

 

[Weststander]

Okay, so this is a long-term thing by the looks of it... A 'mindset shift' if you like. A bit depressing, but as many people have said - it's been coming for a while now.

What 'luxuries' do people see as justified these days? Holidays seems to be one, but beyond that?

Also, sorry if it appeared I was 'advertising'. That was genuinely the very last thing on my mind, and not something I'm looking to do!!

Eating out appears as popular as ever.

Lockdowns etc prevented holidays and closed restaurants.

Pent up demand for the millions who squirrelled away savings or cleared debts/mortgages.

 

[Pavilionaire]

My family and I are comfortable and we'll manage OK but with energy, petrol, mortgage interest, food, council tax and personal tax all increasing so many people will be struggling, and that is going to create more crime and mental health problems.

This would be bad at any time, but after 2 years of Covid plus Ukraine people are already at a low point. We have completely the wrong government for these times too.

 

[Swansman]

I have a long-time commitment to support Nicaraguan tobacco farmers and it unfortunately makes me unable to afford luxuary.

 

[Weststander]

I'd love a 57% increase in elec/gas. My bill is going up from £90 to £310 a month - that's a 244% increase.

I'm cancelling Sky, all my subscriptions and any luxuries for the time being. I'm staying well away from any special offers - it's essential purchases only now

Ours was already £142 with Octopus (ended up with them after two of our suppliers went bust, each time automatically switched).

Waiting to hear the new DD news.

If ever there was a lesson to turn off a house of lights on or the heating on with a window open, this shirley must be it!