Credit Crunch

By Carol Boker

Editor in Chief of Pet Product News International and Pet Style News

This month we’ve all been on a roller coaster of changes—the rise and fall (mostly fall) of the stock market, the mainstream media outlets talking about frozen credit, rising interest rates and an imminent recession.

It is a scary time for business owners. We had one of our writers do some research for our Dec. issue, which will come out in about a month. Many of the retailers that she talked to still remain optimistic in this difficult time—some even showing modest gains in September.

There are some problems with retailers getting credit to make some improvements, which is forcing them to postpone some things they might have done. They also are buying more in bulk, concentrating on selling the basics (since pet owners aren’t spending for many of the frills) and passing deals to customers when possible.

I’d love to hear more stories from our readers regarding their dealings with the credit crunch in this volatile economy.

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