Sunday, 2 September 2012

Retail's red tide


Retail is in a fragile state along the once bustling strip of Oxford Street that winds its way through Paddington. Once filled with boutiques that did a grand trade in fashion and accessories even on a weekday, they are now struggling even on Saturdays. More and more billboards are adorning verandahs trumpeting a shop for lease; more and more posters are stuck on shopfronts indicating a shop selling out from under. And yet, the general public has never been better off. The statistics indicate that wages are rising faster than prices. That interest rates are low. That employment is high. That taxes are lower now than they were 5 years ago.

9 comments:

Theanne said...

so what's the answer? online shopping? shopping in other areas? spending money on other things?

interesting shots of the buildings...sad that their day is passing :(

Julie said...

The reason is a mixture of each of those: online shopping for fashion; the effect of the massive Westfield which opened about a mile away; people paying down debt on credit cards and mortgages; and, a general worry about the state of the world's economy. All of these things, simply make the local economy shakier. Damned if you do, and damned if you don't.

Robert Geiss said...

Thoughtful colour. Over here, there are streets where nearly every shop is closed; said to be about two per day.

Jo said...

The first shot is great with the matching scooter..

As for shopping I avoid it, not one of may favourite pass times at all.

Joan Elizabeth said...

I dislike red "dun large".

Another factor (but not in this shopping strip) may be the ageing population. People are counting their pennies, worrying about how they are going to make ends meet given that much of their money via super was in the share market and has been dwindling. It all feels so pessimistic.

Birdman said...

Over here, they say there has been a big upspring in consumer spending this summer and into September. Will it bode well for the future? Time will determine, I guess.

diane b said...

It looks like people are still buying beer.

PerthDailyPhoto said...

We have only just two weekends ago started Sunday shopping here in Perth, some say better late than never, but I wonder!

Gemma Wiseman said...

So many years since I last saw Oxford Street! I am still trying to recognise this part of the street! So unlike anything I remember! That strident red/orange I certainly don't remember! Maybe the bustle of the street covered the colour scheme!