Recent economic developments have had a significant impact on the global retail industry. With many consumers looking to the internet to purchase online, the margins for retailers in high street and malls around the world have been squeezed. The Cyprus bailout has also influenced consumer sentiment and how they perceive the strength of the euro zone as a whole. Many stores are now slashing their sales in an effort to boost their bottom line.
Some of the recent High Street Fashion Sales haven’t been received as well as in previous years due to the financial climate. Currency fluctuations and some of the Forex Broker news that has been released on sovereign debt downgrades has also been quite influential. Many analysts continue to predict that the euro zone crisis will have a double dip recession effect and could hinder job growth in some of the BRIC and emerging markets nations.
Interestingly, the financial crisis has dented the Indian job market with Jobs in Delhi weakening slightly, along with other areas around the country. Predominantly an IT serviced based economy, many large UK and European retailers have been forced to reduce their workers in shared service and customer centres across India.
The flow on effect is quite dramatic. Changes in economic stimulus by central banks around the world is the key to limiting the harmful effects of a long term protracted financial crisis.