Where does the money come from? Where does it go?

southernscouser

Well seeing as though record numbers for insolvency are predicted I think it's fair to guess how everything was paid for! :rolleyes:

Don't mean that to sound righteous or anything coz I was exactly the same.

Pobby

SS am I right in saying that it is thought that 30,000 will either go under or get into an IVA in the next 3 months?

lil_me

I don't go on fancy holidays, I also drive an L reg car, but that has been out of choice. I didn't buy anything on cards this Christmas, did get someone to pay on a card but give them the cash immediately for the guarantee double up (£400 laptop for my Dad) I did have money to go sales shopping, I bought a couple of things like a set of kitchen scales and a frying pan, pair of trousers, but the rest I don't need anything else. Every other year it's gone on credit, since I was old enough to get credit, I used to have 14 credit cards/store cards but not any more! Most friends of mine have put sales purchases onto credit cards, so my comment is usually - will the saving be worth it after you pay the interest on it?

Reformed

I haven't had the money to go sale shopping this year. I am looking forward to the future when I will be able to have a little in my bank account all the time to treat myself. At the moment I allow myself treats every now and then and then I make sure they are cheap treats and bought the smartest way on the internet - I am pleased that for the first time I haven't been seduced by the sales.

kathfisch

Well judging by my experience in the last week or two, a fair bit of that money taken in the sales is already winging its way back to those credit cards in the form of refunds.

I work in a large clothes store that opened at 5am on the 27th dec for the sale. The fitting rooms are not open on that day so everyone just grabs anything they might want and that might fit them, total bills of £300, £400 were not unusual, one woman managed to spend almost £1000 :eek: ... and that's on stuff that's less than half price, so over £2000 worth at usual price!

The store took over £400,000 on the first day of the sale... but how much of that gets refunded I'd like to know? Today I processed a refund of £170 for a customer who'd spent over £350 in the sale.

I know its not exactly on the topic of your discussion, but worth considering when shops are reporting 'excellent takings' etc :think:

james32_uk

I think people have got a bit carried away with M&Ss Christmas trading results. Dont forget they have invested a huge amount of money and effort in pushing the chain forward and are coming back from a very low base set of figures. I think we'll find the pre-Christmas rush was as disappointing as feared but there was some recovery in the Sales resulting in a sigh of relief from some retailers.