In an interview with CNN this week (via The Telegraph), Bezos was asked if he thought consumers should “batten down the hatches” in response to the global economic downturn. “My advice to people is take some risk off the table,” Bezos said. “If you’re an individual and you’re thinking about buying a new large-screen TV, maybe slow that down. Keep that cash, see what happens. Same thing with a refrigerator or a new car, or whatever.” Given the spiraling inflation, rising energy costs, and constant reports of companies laying off thousands of staff, it’s easy to see Bezos’ point. But not everyone might appreciate being told to spend less money by the fourth-richest person in the world, who has a fortune of $120 billion—though he does plan to give most of it away.
Many shoppers are already tightening their purse strings as the cost of living rises. Combined with the post-lockdown hangover, reluctance to splash out on expensive, unnecessary purchases has impacted the phone and PC/hardware industries, among others. The flip side to the argument, of course, is that if you’re determined to buy a new TV, graphics card, laptop, or whatever, purchasing it at a discount during the sales makes more sense than spending more at a later date. Just don’t tell Jeff.
