https://www.cnn.com/2022/10/13/business/retail-bed-bath-beyond-party-city-rite-aid/index.html
CNN just released an article on retailers that would be most affected during a recession and I hate to say that I saw Party City being amonst them but it's pretty much a given due to current economic conditions. We are suffering almost a year long Helium Shortage at this time and people are still throwing smaller parties. The entire industry and supply chain has been crippled because of years without parties, outdated merchandise, and rising costs in a super sensitive sector.
What are your thoughts on how to survive a recession and do you think these guys will really go under? I would actually hate to see my sector's biggest chain go under because it would lead to rapidly increasing costs for those of us in its' wake, not to mention Party City also owns the largest Party Supply Manufacturer... if they go down we're out 50%+ of our product lines.
While I believe my location is in an area prone to survive an economic downturn I honestly wonder given that we barely survived a year long helium shortage.
I'm all about adapting and adding new product lines but our core products are what bring people in and if they get too expensive it does have me worried. (Balloons are now retailing for $1.99+, they used to be $1 or less)
Thoughts? Figured this is definitely a unique situation for retailers as the ripple effect companies going out of business can have on the supply chain is significant.
www.PartyManiaBethesda.com
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