Maybe the part of the economy that Bayview works in is suffering.
Cliff
Yes, overall; our industry is down - and all the Reps I talk to confirm that - from tyre suppliers, to spare parts suppliers, to things like the company that supplies the tools and parts for tyre replacement; valves, wheel weights, puncture plugs and so on (punctures aren't in recession though
).
But in my workshop, we have customers from all walks of life, and a good number of folk from various industries tell me the state of play in their corner....
Workshops (and tyres) are a sort of barometer, and when the tyre suppliers are quiet, this is a sign that folks are not spending on their cars as much as they were.
It's a discretionary spend, and that spend is down...why?
Maybe some are down because folks are buying their tyres online from O/S? I don't think that is a significant market at all, and after they buy them they still have to get them fitted somewhere with a tyre changing machine.
Noone I know of is complaining of that happening; we get the very occasional one at our place.
Noone is hiring to any degree, many in the building trade are plodding, looking for more work, downsizing of staff and cutting costs etc.
It's all general - and there are always folk who are doing well in any period of time - but across the board I hear not a lot of excitement at all.
I have a mate who has the management rights to 4 golf complexes. He has been in the Golf industry as long as me, and has done very well. He moved away from working in Proshops (still does in his first one) but is moving towards the management of those facilities.
Golf is also a discretionary spend. In my life it has been a good barometer of the folks financial health in society.
He is seeing a decline in the sport across the board - not every Club or course - but generally as a sport and industry.
Memberships at Clubs are down, joining fees are non-existent at a lot of Clubs, where once it might have been a 3 year wait to get in, and a joining fee of $2k etc.
Still others are opening up their doors to allow non-members and visitors to pay greenfees and play - this was not the case previously at many of these Clubs.
Public course numbers are down across the board - why is this all happening in a sport where the media coverage of the game now is higher than it has even been in my entire life?
Not saying there isn't activity left right and centre - there is; tourism and so forth are going along...everywhere is still operating; the movie theatres, the bars, the cafes and restaurants etc - all trading...even the golf courses have players and some are very busy some of the time.
For example; Holiday Letting - I mentioned we are going to let out our joint over next summer, at a lazy $1k per night (according to the agent) and she is totally confident it will let, and they have several others which do, and are already booked - so there is money out there, and many here go; "Oh; it's beer and skittles - whaddya talkin about?" and examples like tis may deceive us all.
But you may only be seeing the pointy end of it folks and the rest is possibly without any.
But don't be fooled by little flurries of movement.
Observation 1 . Military rd . No vacant shops . In the GFC , when we bought there it seemed like every 3-4 th shop was empty . Now not the case .
What was previously in those shops - before the empty period - and what is in them now, Cliff?