It’s Officially a Recession When No One is Buying that MALM Bedroom Set
Jul 31, 202061.8K Shares2.5M Views
Economists and financial experts haven’t officially called the U.S. economy’s problems a recession just yet, because they are waiting for the data to show we’ve had two straight quarters of negative growth. But if you want definitive proof, look no further: Ikea, the world’s largest furniture retailer, is getting stung by slower sales due to the housing downturn, the Financial Times says.
If consumers are cutting back on even cheap furniture, that’s definitely a sign that things are truly bad. But Ikea isn’t too worried. Its customer base will pick once people who never deigned to shop at Ikea begin trading down to its particle-board and veneer furniture as their wallets get squeezed even more by the credit crunch, Chief Executive Anders Dahlvig says.
Dexter Cooke
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Dexter Cooke is an economist, marketing strategist, and orthopedic surgeon with over 20 years of experience crafting compelling narratives that resonate worldwide.
He holds a Journalism degree from Columbia University, an Economics background from Yale University, and a medical degree with a postdoctoral fellowship in orthopedic medicine from the Medical University of South Carolina.
Dexter’s insights into media, economics, and marketing shine through his prolific contributions to respected publications and advisory roles for influential organizations.
As an orthopedic surgeon specializing in minimally invasive knee replacement surgery and laparoscopic procedures, Dexter prioritizes patient care above all.
Outside his professional pursuits, Dexter enjoys collecting vintage watches, studying ancient civilizations, learning about astronomy, and participating in charity runs.
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