Locally yesterday’s spree looked like a one day wonder this afternoon. In Wokingham there were long queues in Woolworths to pay small sums for items that are now heavily discounted and well thumbed through, but not a lot else going on. In Bracknell the furniture sheds were short of paying customers and the electrical and DIY shops far from busy. The MFI store looked forlorn. The car parks were half empty, which looks poor by Saturday standards.
It is true, as some have remarked on this site, that the big cuts in mortgage rates and the fall in petrol prices is helping those with the larger mortgages. At the same time the big reductions in interest rates is hitting many retired people who looked to the interest on their savings to supplement their pensions. What the shops might gain from the former they are going to more than lose from the latter, especially as many of the younger families are worried about job security and feeling they have to repay some of the debts.