Taking the Business Cycle in Stride
The Swedish Trade Federation says the current financial crisis will influence shopping patterns.
The organization’s head of information Margareta Ternell says more people will be turning to discount stores, especially for food, clothing and shoes.
She tells the TT news agency that many consumers can be expected to skip more expensive items, like furniture and travel, as well as visits to restaurants.
But, Ternell says, retailers are good at taking changes in the business cycle in stride.
Meanwhile, the CEO of truck-maker Scania says he isn’t worried about the financial crisis either. He tells TT that it’s not much different from previous economic slowdowns, which have come about a decade apart.