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Don't think I am writing about a Christmas discount, No. And ahh!! Next month is the Christmas festive season. Are you planning on being the discount buyer or seller? Even talking about that, this demanding season always raises the prices of goods and services.
I can remember some years back when our entire economy tightened up. ‘Forgone alternative’ was no longer an economic term but rather a way of life for many. In short, everyone became an economist.
There were expenditure slashings here and there. Oh! I could do this and that at home to return some extra bucks ( to be even more precise, reasonable bucks because everything was expensive). Transportation doubled up and well, this is when we had to turn attention to close destinations or available short cuts.
Living in the heart of the city can force you into some hype. If I take a stroll and someone sees me, he may think I am broke. Have you realised that societal pressure fuels most of our unnecessary expenses? In 30 days, unnecessary expenses might have climbed to 40% of total expenses.
Just imagine if this went into savings for or investing. Ok, moving forward, we have seen the entire economy gradually taking shape (in the human mind at most). Although the economy has resettled in purchasing price a bit the biggest resettling has been consumers finally accepting the adjustment. It has now become very normal.
Businesses were facing lots of pressure and what was really moving the market by then was mostly consumables. How do you survive when you are in the business of other services or products? From my experience, I saw our service demand slowing down. As I earlier said, ‘forgone alternative' became a necessary option.
When even talking of consumables, the easily affordable ones were prioritized. Can foods were ignored for local processed ones. How will a family of 6 more do when good has far exceeded money in market value. Chewables became something of concern too. Before then, you would just get a pack of biscuits or so to keep yourself busy while going through your mobile phone.
Even online presence faced a decline. Network providers increased tariffs charges on both data and local calls. You will be seeing some people just jump in and out of the online space to avoid overspending. Maybe it curbed some social media noise although the strategy was unappreciative.
Well, why many were seeing a dead end, I had to hang in there. I knew that this economy would take shape although it would take some time. We saw one of the peak bounce back from last year and those who were still hanging in there especially on relevant service are getting back customer attention.
As long as money is concerned, we should be expecting inflation. Humans will always find ways to adjust first in expenses and secondly in mentality to meet up. The latter is what always calls for entrepreneurs to show resilience concerning their current industry.