Mon, 9th March 2009

Spending begins at home

The answer to many retailers prayers could be right on their own doorstep.

By Glynn Davis

It involves convincing their employees to spend more money in their shops. In Japan there are a growing number of companies requesting employees spend with them. Panasonic is running a campaign asking its managers to spend at least ,000 before the end of July and it is a similar story at Toyota where managers are being encouraged to buy new cars. NEC has also been implementing such an initiative, Not only does this help bump up sales but it would also show which managers are most committed to the company. Those that fail to purchase sufficient goods could then be the first out of the door when it comes time to make redundancies. The only problem is that the more staff that are shown the door then the less employees there will be to purchase goods. It also seems likely that nobody would ever purchase anything from a company that had given them the elbow. So before any more redundancies are made in the UK it might be a good idea for retailers to start putting some pressure on their employees to get spending the last of their disposable income with their good-old employer.