The Economy

Peter Schiff has a time machine.

I am convinced after watching this.

I love that he was yelled at for predicting EXACTLY what we are seeing.

Thanks to Brian Jones for originally posting this.

More importantly, see Peter talking about 2009 last month, he was still getting yelled at!

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Holiday Shopping Sales Fell 3%

According to comScore - holiday e-commerce was down 3% year-over-year - spending totaled $25.54 billion, from $26.33 billion during a similar period last year.

First time since 2001 when they started tracking this.

Some winners: HP site visitors jumped 28%; Amazon’s traffic increased 7%.

Ebay was the most visited site but was 4% down from last year.

No surprise Circuitcity.com visits were down 21%, and Dell dropped 17%

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“The Great Disruption”

The Great Disruption. Is this how we will be referring to our current economic times?

Scott Anthony poses that question at Harvard Business Publishing.

He goes on to discuss how to Thrive in the Great Disruption stating it requires a particular breed of innovator.

Specifically, innovators should look to master three disciplines:

1. Placing a premium on progress.
2. Mastering paradox.
3. Learning to love the low end

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Will the economic downturn drive an increase in online sales?

I started writing this thinking, “yeah, sure - uplifting news to follow. Not so much - looking at the November 2008 Monthly Retail Sales Comparison, I expected to see a clear uptick. I then headed over to emarketer.com and I was greeted with “2008 was not a good year for e-commerce.”

Granted we are looking at a 10% increase over 2007, but overall we are looking at a growth rate decline of about 20%.

I mean, all the earmarks are there for an upturn. At no time in history have consumers had more access to more choices in terms of product and price.

With e-commerce sites becoming easier and easier to search, browse and checkout one would expect to see that upturn in online sales.

The unfortunate news is, it has not happened. In 2007 we saw a 20% increase over 2006. This year we are seeing just a 10% increase over 2007. And we know the stakes are high for many of these retailers who are teetering on bankruptcy.

Happy New Year?

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