Why Jeff Bezos’ tips amid recession fears can trigger sales dip at Amazon?
Amazon boss Jeff Bezos has advised consumers to hold their big purchases this season owing to recession fears.
He pointed out that delaying purchases like new cars, televisions
appliances would mean keeping some ‘dry powder’ in the event of a prolonged economic downturn.
Bezos said, "If you are an individual and you are thinking about buying a large-screen TV, maybe slow that down, keep that cash, and see what happens.
Same thing with a refrigerator, a new car, whatever. Just take some risk off the table"
Take some risk off the table," he told
. “Just a little bit of risk reduction could make the difference."
He also advises that small-business owners should also refrain from making fresh investments in new equipment, and build their cash reserves instead.
Many may be feeling the pinch now, he said adding that things will be better in the future.