November fur retail mostly down

SANDY PARKER REPORT, VOL. 32, ISSUE 38, DECEMBER 8, 2008
The following extract is reproduced with permission from Sandy Parker Reports, Weekly International Fur News. Sandy Parker has been covering the fur industry for more than four decades. For most of that time he has published a weekly newsletter, detailing results of international pelt auctions, wholesale price trends, business developments and movements in the trade, as well as economic and political activities that may impact on it.
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International Fur News
with Sandy Parker
November fur retail mostly down
AS HAD BEEN WIDELY EXPECTED, THE AILING ECONOMY MADE ITSELF FELT IN NOVEMBER, the first of the important months on fur retailers’ calendars, amid indications that the next three months may not be much better. And, for the first time in recent memory, the furriers could not blame their results on the weather, which has been mostly favorable throughout the United States and much of the rest of the world. But the retailers were taking it in stride in the knowledge that other businesses are in the same boat and the fur industry is not being singled out as it was a decade or so ago when animal activists may have had some impact on sales.
To be sure, the month’s sales were not universally down; there were some bright spots in which retailers reported they were even to slightly ahead of last year’s month. Nevertheless, they too believed they could have done much better under more favorable economic conditions – especially having had the weather on their side.
RETAILING IN RUSSIA AND CHINA also is feeling the effects of the global financial crisis and reports from overseas sources indicate that fur sales are proving to be no exception. Both markets have been growing by leaps and bounds in line with those countries’ economies and have been taking the lion’s share of the skins at the auctions, sending prices skyward. Conversely, if the early signs are borne out, their reduced activity could easily cause skin prices to reverse course. Major Russian retailers who had been gearing for further sales increases are now said to be projecting declines of as much as 20%. This is said to be translating into fewer orders placed with Chinese manufacturers. As China’s largest export customer, a drop in Russian business would have a major impact on the Chinese trade and its skin purchases.
IN THIS ISSUE:
November Retail Mostly Down
Economic Problems Blamed
Russia, China also Affected
Season Ahead Seen Difficult
Survival Now Called Main Goal
For extracts from back issues of Sandy Parker Reports see News Index. Subscribers can access an archive of complete issues at www.sandyparker.com.
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