The bad economy, the credit crisis, bail outs, automobile crises, gas prices, and retirement funds are all over the news. But the influences on the younger generation are not always mentioned. There are over 21 million high school students in the United States and almost five thousand just at Neuqua Valley who may not be worrying about their retirement funds but are certainly affected by the economy’s dip.
Unemployment rates in the country have climbed 1.2% since June of 2008, and many companies cannot afford to take on any new hires. This makes it difficult for anyone to find a job, especially for unseasoned career searchers in Neuqua’s halls. This is coupled with the fact that prices are dropping and two-for-one type sales are more than common.
Some big franchises have been forced to close the doors at some of their locations. For example, Starbucks is closing 25 stores in Illinois alone to the devastation of caffeine lovers. While all the Starbucks will continue to brew in Naperville, the Bolingbrook Promenade location will be closing.
Steve and Barry’s, one of the newer additions to the Westfield Shopping Center, filed for bankruptcy and is now empty and dark even while the rest of the mall is alive with hurried shoppers.
Circuit City and Office Depot, on Weber in Bolingbrook, are also both closing.
While most stores have been seeing drops in sales and traffic, the degree of failure varies with each company. Panera Bread, with cafés that seem to be everywhere, has been able to stay afloat in the quicksand of this recession. While they have been seeing downward trends like everyone else, Panera is not planning on closing any stores. “Our more expensive items have become less popular. Soup seems to sell well because it is among the cheaper items,” explained one of Panera’s district managers. Customers everywhere at every store are seeking out the cheap, cutting coupons and taking advantage of sales. Because this specific Panera is located in the Westfield Shopping Center, she said that, “We are affected more than other cafés because we are in the mall. Our sales are solely dependent on traffic in the mall, which has fallen due to the economy.”
Closing stores has caused some panic among shoppers; however, multiple online sites made some false claims about stores closing due to the recession. The sites, like a bad chain email, claimed that stores like Disney, Cache, Gap and Foot Locker are closing hundreds of stores and encouraged people to spend their gift cards fast. This was not a true claim, but it caused panic in cyberspace.
With the struggles that accompany the recession, companies are striving to make changes to keep customers coming in their door rather than others. Introducing new products or ideas seems to be on the top of the list. Starbucks has introduced the Tazo tea while McDonalds recently added the McCafé line of coffee beverages and handed out coupons to attract the more-expensive Starbuck’s and Caribou addicted customers out there. In addition, Oberweis has started to offer free coffee on Fridays to keep pace. The Hollister and Abercrombie internet home pages now only proclaim, “CLEARANCE: in stores near you.”
All the incentives being offered seem like a positive thing for the public, but their representation of the recession cannot be ignored.
By Kelly Klus, staff writer
