I’m getting a FONY feeling about this Christmas - Jim Duffy
Brexit fatigue, general election misery, politicians lying to us and the fear of next year (I’m going to christen that FONY) are all making us a little jumpy, a little nervous and, dare I say, a little off kilter. This is the time of year when the shops need us to get stuck in with our credit cards so that they can finish the trading quarter with a bang.
Shop windows are dressed with elves, Santa and other Yuletide characters to make us feel all gooey, so we tend to spend more. But, I’m not sure we are all that emotionally connected with Christmas this year – yet.
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Hide AdThe Black Friday deals are going on until Black Friday next year, it seems. Everywhere I turn online, I am being offered a Black Friday deal. Whether it is a TV, a pair of glasses or a headset of noise-cancelling headphones, I’m still not buying.
Answer me this one will you? Do we really and truly feel that the Black Friday deals are as good as they used to be? I’m not so sure. Hence, why I believe they are spinning them out for what seems like eternity. The three wise men would do well to wait for a few weeks and get a better Black Friday deal the day after Jesus makes an appearance.
What about the choice of offering? Is it not just the same old, same old? This week there is more trouble at Ted Baker. The share price is off 30 per cent and the fashion label’s chairman and CEO are departing. A profit warning is nigh. And Ted Baker is one of my favourite shops. I love, yes love, the shirts and sweaters. Buying one of these is a real treat as they cost, what is for me, an arm and a leg. But, even with Ted Baker, I’m not feeling that it wants me as a customer or that it wants me to feel good quality with great value. Perhaps the new CEO and chairperson will take note.
FONY is playing on my mind
This picture is replicated throughout the retail industry it seems – with the only exceptions in my humble option being Aldi and Primark. This may sound a trifle over the top, but I get quite excited as I enter both of these shops. One, because they have great new selections and, second, the value is awesome. Hold on, I don’t see anything wrong with that – do you? Perhaps, this is why Wetherspoons is doing so well and announcing big expansions. Of course, some of you may see the timing as Brexit supportive, as the main man at Wetherspoons has been a Brexit advocate. Nonetheless, punters are buying there and that’s what retail is all about.
Then there is the fear of next year (I repeat, FONY). I mean who will be in government and what will it all mean for public finances, taxation and interest rates? Yes, FONY is also playing on my mind as I consider what presents to buy and more crucially how much to spend.
All the political parties are throwing cash promises about like there is literally no tomorrow. The FONY is that they may indeed follow through with some of these cash sucking policies and we will all have to suffer, as markets here and throughout the world balk at the costs and at which way Brexit could go. Next year has lots of potential, but in my pre-Christmas maelstrom of fiscal doom, the potential is waning to debt, debt and more debt.
Now that I have cheered you up on the train, on the bus or in the staff room, it may make you think about how you will vote to make sure that FONY does not became a reality. But I’m offering no guidance here. Suffice to say, in the words of Tony Blair, choose wisely. So maybe next year at Christmas, things may look less bleak. Bah humbug…
- Jim Duffy MBE, Create Special.