The state of the economy at the street level

[Smurf1976]

Big W offers more food stuff than kmart, i mean chocolate gifts etc but in my opinion, doomed
I see David Jones or just conglomerate of top brands under an informal umbrella in each capital cities, no Myer or Target/ Big W,
Kmart as the reference fighting some new Miju or Miniso (much smaller footage) shops for cute bric a brac

Quality is an issue in all this as well as price.

I've got some old items of clothing from Target and even after being worn however many times an old T-shirt is still better than the brand new ones they sell today. The fabric now is ridiculously thin, dies fade, stitching comes out and so on.

I think part of the reason these shops are struggling is that apart from DJ's and to a lesser extent Myer, all the rest are pitched at the same customers for whom price is the primary or even only factor driving their decision.

It seems to be much the same across other areas of retail. If you want quality then with few exceptions you need to go to a specialist, the mass market places are all targeting the bottom end of the market.

 

[SirRumpole]

You may not have been into a Kmart for a while, they have morphed into a kind of Ikea without the furniture, Aldi for electricals and clothes etc.

I was in K-Mart last week. very little furniture, small selection of (men's) clothes, a few kitchen appliances, but lots of toys and baby stuff.

Big-W in my area at least has a bigger variety of merchandise.

 

[SirRumpole]

Quality is an issue in all this as well as price.

I've got some old items of clothing from Target and even after being worn however many times an old T-shirt is still better than the brand new ones they sell today. The fabric now is ridiculously thin, dies fade, stitching comes out and so on.

I think part of the reason these shops are struggling is that apart from DJ's and to a lesser extent Myer, all the rest are pitched at the same customers for whom price is the primary or even only factor driving their decision.

It seems to be much the same across other areas of retail. If you want quality then with few exceptions you need to go to a specialist, the mass market places are all targeting the bottom end of the market.

I bought a set of thermal underwear from K-Mart last week. So thin that I had to put another layer underneath and I'm still cold. It's rubbish.

 

[jbocker]

Quality is an issue in all this as well as price.

I've got some old items of clothing from Target and even after being worn however many times an old T-shirt is still better than the brand new ones they sell today. The fabric now is ridiculously thin, dies fade, stitching comes out and so on.

I think part of the reason these shops are struggling is that apart from DJ's and to a lesser extent Myer, all the rest are pitched at the same customers for whom price is the primary or even only factor driving their decision.

It seems to be much the same across other areas of retail. If you want quality then with few exceptions you need to go to a specialist, the mass market places are all targeting the bottom end of the market.

I wonder if there is a developing market for Buy Quality & Buy Less.
The doc and others say I should drink less (done worrie I done hava plobrem) so I spend more on a quality wine or craft beer and do drink a lot less. I appreciate it and it is overall a far better outcome. I think the same would apply for most things.

 

[basilio]

I wonder if there is a developing market for Buy Quality & Buy Less.

Yeah....
In fact it costs relatively little more to make a quality long life product vs a cheap unit and lasts until next week.

The trouble of course is that our entire economic system is now based on making more and selling more and more stuff. That's it. End of story. To achieve that end we need systems of relentless marketing, "new"proucts (regardless of new or value) and a rapid breakdown or built in obsolescence for older ones.

This is economic growth and environmental suicide 101.

 

[Humid]

I wonder if there is a developing market for Buy Quality & Buy Less.
The doc and others say I should drink less (done worrie I done hava plobrem) so I spend more on a quality wine or craft beer and do drink a lot less. I appreciate it and it is overall a far better outcome. I think the same would apply for most things.

Stout weather

 

[jbocker]

The trouble of course is that our entire economic system is now based on making more and selling more and more stuff. That's it. End of story. To achieve that end we need systems of relentless marketing, "new"proucts (regardless of new or value) and a rapid breakdown or built in obsolescence for older ones.

The marketing world is controlled by Fashionists!!
I am going to launch a rebellion!
To start, the next time the Mrs heads for a shoe shop. I will stop her! You have plenty at home!!
WHY NOT? I ask of you reading this. I have top level health and hospital insurance.

 

[sptrawler]

Yeah....
In fact it costs relatively little more to make a quality long life product vs a cheap unit and lasts until next week.

The trouble of course is that our entire economic system is now based on making more and selling more and more stuff. That's it. End of story. To achieve that end we need systems of relentless marketing, "new"proucts (regardless of new or value) and a rapid breakdown or built in obsolescence for older ones.

This is economic growth and environmental suicide 101.

As we have said, it is one of the major factors in climate change, an increasing population and the energy required to supply the population with more and more junk that last a shorter time.
Hardly anything is repaired now, as you say the whole world is built on obsolescence and we are trying to sort it by making the energy cleaner. Weird logics.
As the corona virus showed emissions fell 17%, just make $hit last longer, teach people that they don't need to flip stuff every year.
If we can reduce our power requirement by 20%, it gives a huge opportunity, to shut old generators.
A bit off topic, but still something that needs addressing, e.g car sales have fallen off a cliff with the virus but they are still being pumped out.

 

[SirRumpole]

As we have said, it is one of the major factors in climate change, an increasing population and the energy required to supply the population with more and more junk that last a shorter time.
Hardly anything is repaired now, as you say the whole world is built on obsolescence and we are trying to sort it by making the energy cleaner. Weird logics.
As the corona virus showed emissions fell 17%, just make $hit last longer, teach people that they don't need to flip stuff every year.
If we can reduce our power requirement by 20%, it gives a huge opportunity, to shut old generators.
A bit off topic, but still something that needs addressing, e.g car sales have fallen off a cliff with the virus but they are still being pumped out.

Speaking of repairs, did you see the item on Landline, where farmers are demanding a "right to repair" their own tractors and farm equipment ?

Apparently the dealers keep secret their software for engine management etc and only the dealers can access it. It seems as if there is farmers are now welded onto their dealers in times of trouble.

I feel for them but I doubt if their is much alternative, most farmers don't have electronics degrees so there wouldn't be much they could do anyway to service their own machines.

 

[jbocker]

Speaking of repairs, did you see the item on Landline, where farmers are demanding a "right to repair" their own tractors and farm equipment ?

Apparently the dealers keep secret their software for engine management etc and only the dealers can access it. It seems as if there is farmers are now welded onto their dealers in times of trouble.

I feel for them but I doubt if their is much alternative, most farmers don't have electronics degrees so there wouldn't be much they could do anyway to service their own machines.

It is a bit like the printer for your computer, the printer costs bugger-all just a little more than the replacement ink cartridges.

 

[sptrawler]

Speaking of repairs, did you see the item on Landline, where farmers are demanding a "right to repair" their own tractors and farm equipment ?

Apparently the dealers keep secret their software for engine management etc and only the dealers can access it. It seems as if there is farmers are now welded onto their dealers in times of trouble.

I feel for them but I doubt if their is much alternative, most farmers don't have electronics degrees so there wouldn't be much they could do anyway to service their own machines.

That's so true Rumpy a mate of mine used to put in dams 30 years ago, had a D7G Cat, we were always pulling it to bits and fixing it. Now the electronics on even the most basic diesel requires a laptop or OBD2 reader to even find out why it stopped.
The mapping of the ecu on the farm equipment would be set with a degree of safety, once a farmer got in there, well you know what farmers are like.

 

[Smurf1976]

I feel for them but I doubt if their is much alternative, most farmers don't have electronics degrees so there wouldn't be much they could do anyway to service their own machines.

Where the problem arises is that the current practice prevents an independent technician from repairing the machine and forces the farmer to rely on the dealer.

 

[Smurf1976]

In fact it costs relatively little more to make a quality long life product vs a cheap unit and lasts until next week.

Yep - in some cases nothing more than using a different alloy in the casting or using a different type of plastic.

There are exceptions, there are some situations where it does make sense to replace old with new from both an economic and resources / environment perspective, but those are exceptions not the norm.

There’s also a loss of skills aspect to it all. If you want someone who understands how things work, how to identify what’s wrong and how to fix it then reality is most who can do that are age 40+. In due course the skills will be lost completely.

 

[Garpal Gumnut]

Speaking of repairs, did you see the item on Landline, where farmers are demanding a "right to repair" their own tractors and farm equipment ?

Apparently the dealers keep secret their software for engine management etc and only the dealers can access it. It seems as if there is farmers are now welded onto their dealers in times of trouble.

I feel for them but I doubt if their is much alternative, most farmers don't have electronics degrees so there wouldn't be much they could do anyway to service their own machines.

It's why I hang on to my old Bentley.

It doesn't need a computer to fix bugger all which costs $200-500 like some Nissans.

gg

 

[jbocker]

CAUTION: Insurance Tenant Protection policies and Covid 19.
I have a rental property due for insurance renewal. Because I rented the property to my daughter for a number of years I didn't bother having Tenant Protection (loss of rent, malicious damage etc) on the property. Daughter has moved out and a new tenant has moved in, I have asked for the insurance renewal to now include Tenant Protection. NO you cannot have it, was the answer. The reason why is the Covid-19.
I have other properties which have tenant protection and I asked what about them. Yes we are honouring that in the renewals but NOT for new insurances. The chap then went on to explain and we (the company) are the only ones that provide that cover (in renewals).
So a word of caution to be aware of, with your policy renewals.. Tenant Protection may be dead while Covid-19 is at play. Anyone else heard this sort of news out on the street?
Unfortunately I was in the midst of inquiring further detail when I was cut off, (crap weather in Perth) and my chances of getting the same chap isn't likely.

 

[Belli]

CAUTION: Insurance Tenant Protection policies and Covid 19.

I've heard most insurers such as Terry Sheer will not take on new policies currently as a result of Covid-19. Doesn't cover loss of rent anyway if the tenant is ill due to say Covid-19, cannot work and cannot pay the rent in those cases. Only covers legal default.

Could be tough going for some landlords.

Disclaimer: I've never had an IP although my late wife did but only once and for less than a couple of years.

 

[BlindSquirrel]

CAUTION: Insurance Tenant Protection policies and Covid 19.
I have a rental property due for insurance renewal. Because I rented the property to my daughter for a number of years I didn't bother having Tenant Protection (loss of rent, malicious damage etc) on the property. Daughter has moved out and a new tenant has moved in, I have asked for the insurance renewal to now include Tenant Protection. NO you cannot have it, was the answer. The reason why is the Covid-19.
I have other properties which have tenant protection and I asked what about them. Yes we are honouring that in the renewals but NOT for new insurances. The chap then went on to explain and we (the company) are the only ones that provide that cover (in renewals).
So a word of caution to be aware of, with your policy renewals.. Tenant Protection may be dead while Covid-19 is at play. Anyone else heard this sort of news out on the street?
Unfortunately I was in the midst of inquiring further detail when I was cut off, (crap weather in Perth) and my chances of getting the same chap isn't likely.

So... long QBE?

 

[jbocker]

So... long QBE?

It was AAMI who I was dealing with.

 

[InsvestoBoy]

A friend of mine was scheduled to have some elective surgery done, postponed due to COVID. Very suddenly the hospital called them and told them they had re-opened for elective surgery and could they come in just a few days from now.

A lot of shut down private hospitals must be coming back online. Many nurses, attendees, etc will be back to work.

 

[jbocker]

A friend of mine was scheduled to have some elective surgery done, postponed due to COVID. Very suddenly the hospital called them and told them they had re-opened for elective surgery and could they come in just a few days from now.

A lot of shut down private hospitals must be coming back online. Many nurses, attendees, etc will be back to work.

Father in Law just had three hernias done under medicare. He had been waiting ages and was close to being called up when covid-19 stalled everything. The hospitals have cranked up and they were churning through plenty in the short stay ward.