OK, here’s an exercise to test your powers of observation 🙂
When we talk of an economic slowdown we tend to look at our own experience – our firm, our sector or some big indicators like, say, real estate or auto sales. But if you look and listen closely, you’ll find clues everywhere around you.
Read about three unrelated indications I found:
– A doctor told me some time ago that there are two kinds of surgeries: must-do and can-wait. The first type (anything heart related eg) was unaffected but the second kind (knee surgery eg) was seeing a postponement because children were uncomfortable about spending a big amount when their own financial future was shaky. They were delaying the event in consultation with their parents.
– Long before slowing GDP growth began hitting the headlines, the manager of our local club (gymkhana) said that people were spending less on food and beverages.
– And yesterday I met a young animal behaviourist – that’s a specialist who helps people deal with problem behaviour among pets. He said that December in Delhi is his busiest month but he wasn’t getting any calls this year! People were trying to avoid spending on pets if they could.
Do you have varied examples of this kind to share that reflect consumer sentiment?