News, info, and opinion by Mac users, for Mac users.

March 19, 2008

money

Apple may feel the pinch of weakened economy

Posted Mar. 19, ’08, 1:30 PM PT by David Dahlquist
Category | Money

economy.jpgFeel that tightening sensation around your waist? That’s your pockets shrinking from lack of money. Hear that shriveling, deflating-balloon sound? That’s America’s pockets shrinking. Know what that means? Less spending on pleasure purchases like ice cream, Hawaiian vacations, and—ah, yes—consumer electronics.

According to a survey of over 4,400 Americans conducted between Feb 18th and the 25th by ChangeWave Research, a whopping 33 percent said they would be spending less on electronics in the next 90 days, compared to only 19 percent who said they would spend more.

While it’s common for the dominant response to be “spending less” through most months of the year, the gap is now the largest it has been since 2002, which shouldn’t be too big of a surprise considering the economy as of late.

The big electronics retailers like Best Buy and Circuit City are expected to be hit the hardest, but Apple may feel the pinch as well—its sales are predicted to drop as much as 6 percent.

As a broke college student, electronics purchases have a permanent place on the “spending less” list for me, and in these dire financial times, even the crucial items like macaroni and cheese, beer, and ramen have been suffering from my budget cuts as of late.

Here’s to better times and fatter pockets.

[Via iPodNN]


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