152 Shopping Days until Xmas – is it time to buy your pressies now?!
“The majority of UK retail stock is made in China and paid for in US dollars. Talking to a key UK retailer yesterday it became apparent that the current drop in value of sterling versus the dollar is going to put up the cost of all our Christmas presents. Many of the retailers were clever and bought lots of dollars in an around the 2 dollars to the pound level. Stock being sold now was bought at that level. One of the first retailers to run out of cheap dollars was Argos and prices in their stores are going up this week. The Christmas Stock is being ordered now by most retailers and will have to paid for at current levels with the dollar being 25% more expensive. Therefore, our Christmas presents will be priced higher. More retailers are going bust at the moment and liquidation sales are a plenty. Therefore our tip for the day is get out this weekend and get those Xmas pressies bought catching the last of the cheap dollar retail inventory ! Happy shopping !”
fxjunkies 