Meanwhile USA supermarts are closing like nobody's business. Some of the biggies like Walmart, Sears, BHG and other biggies we have seldom heard of over here, are closing stores by the hundreds, having lost millions over the years. How many employees are being laid off is up to you to imagine. Of course, that also means more job creations in other lower paid jobs, take it or leave it. Job creation is glowingly reported but job attrition goes under the radar.
The job market in USA is still interpreted as very strong. Yeah, the USA economy is also strong, but in the next breath they pricked the balloon, saying there are also strong headwinds. This is always the same old narrative. Very strong going forward but there may be signs of slowing they will tell you. What are they saying? Basically nothing, but bullshiting.
All these store closures are the result of online shopping. Now, where do those products on online platforms come from? Mostly from China of course. The USA mainland produces nothing that their citizens need, except if they want guns, which are plentiful, and tanks and fighter jets. Even tanks are not being produced in numbers large enough to supply to Ukraine. Wait a year or two they promised Zelenskyy.
Consumers have now found out during COVID19 and subsequent lockdowns that much cheaper things can be bought online. Shein, for example, is also discreetly taking the market by storm, and together with others, are cannibalising the business of the conventional shopping outlets and malls. Without the high rentals necessary for a cool presence in malls, they are able to offer products that are so much cheaper, such that you honestly cannot think twice about buying. That is why the USA Government is cracking down on those Chinese online business platforms, with fabricated claims about the dangers of Chinese products. Everything is capable of spying on them and must be demonised. They are also posing competition to Amazon.
The USA will regret what they wish for, if Chinese companies do take up the de-coupling narrative and move out of the USA, providing only online shopping presence in the USA. After all, this is the de factor modus operandi of Chinese businesses selling their products for years already. They have even been providing regular customers with updates on new products via their mobile phones. Such is the ease of doing business today.
Here in Red Dot, they can reinvent all they want with those shops in Orchard Road with what they claim 'new shopping experience', but it is not going to improve the shopping environment. It will only result in even higher rentals that will eventually drive those tenants out of business for good.
Anonymous