Remembrances of Recessions Past
kets, like other businesses, were operating in a recession. Consumers were cutting costs by spending more dollars on food at home. Sounds like 2002? Actually it's 1991.
Early in the last decade, just as early in this one, the impact of the slumping economy touched all retail businesses, according to an SN article from Jan. 14, 1991.
Food retailers were concerned about the effect of that recession on new-store expansion and remodeling of supermarkets.The general outlook of many of the retailers SN spoke with then, however, was upbeat. Some anticipated a possible advantage for certain departments of the store as fewer consumers opted to eat out.
As it turned out, the early-1990s slump wasn't as deep as initially thought. And just as in 1991, some retailers today seem to be looking at the bright side. In an article in last week's SN, some chief executive officers said despite the national economic trend they expect their businesses to fare all right.
