Sunday 4 May 2008

What Credit Crunch?

Now here's a thing. On the one hand we have screaming headlines about the rising cost of living. On the other, we see the UK launch last week of Wii Fit, a combined computer and fitness game costing £69.99p, and Grand Theft Auto, another computer game costing around £39.99p. At those prices, in the current climate you'd think both launches would have been a terrible flop.




Not a bit of it. According to a piece tucked away in the business section of Thursday's Times, Wii Fit sold 200,000 copies in its first three days of sale. It might have sold more but stocks ran out. The Times online today tells us that Grand Theft Auto sold 609,000 copies on its first day. Consumers have shelled out a cool £40m on the two games in less than a week.



What's the relevance of all this to a blog which is supposed to be about consumer trends and their impact on agriculture? Well, number one, farmers should not feel remotely defensive about their quest for a fair return for their efforts, even though it may mean a rise in food prices. I'd guess that not many hill farmers have bought Grand Theft Auto. Second, those griping about the price of food might want to reassess priorities, and remember that the price of food has declined by about 17% since 1989. And, nothing to do with food, but is it not a bit disturbing that so much money should have been spent on a Grand Theft given its violent content, which has led to withdrawal of advertising on public transport systems in America.

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