We all visited Westfield on Thursday.

It was a truly excellent launch of a magnificent retail operation and frankly we should be proud that it is in our city .

That said all the press news is about recession and the likelihood of consumers just not spending at all and  not spending in this temple of shopping.

But they all miss the points

The first being what was Westfield meant to do? Cover the whole thing in bubble wrap and say let's wait till times are better. It had no choice, but to open and it did so with tremendous enthusiasm and style.

What is the consumer going to do? Well they are going to visit in their thousands. They will, during that visit, decide for themselves whether they will spend their money there or go back to their previous shopping destinations. They will decide whether Westfield is for them or not and then carry on with their lives.

The question that has not been investigated properly is will there be enough spenders to sustain our shops if we are going to be living through a recession in 2009?

The answer is yes for many and no for some, but this issue applies to all shopping centres and high streets throughout the UK.

If the area in which the shopping centre/high street resides suffers from increased unemployment in 2009 then they  will suffer.If the area, does not then it will survive ok.

It will be the regional economic demographics of a centre that will determine its success next year not the social grades.

How can Westfield not be a success in its catchment of London?

The fear of unemployment (and actual unemployment) will stop people spending. It's the not knowing that is stopping people spending. Nothing else.

Gas bill or new shoes?...come on its a no brainer. Prada or Office? Now that's a different dilemma.

Even though I’m the core target audience as of yet I haven't seen the new TV ad and I must say I was terribly disappointed by the print campaign and the line 'shopping in a new light' is not particularly clever.

Take a look at the TV ad here

Although I think this is beautifully shot and executed, I’m still not sure the line is particularly inspiring. And moths to light - didn't Harvey Nics run a campaign
with this as the proposition? I say proposition as they didn't feel the need to actually explain it to me with a line.....

Does this campaign live up to the spectacle that is meant to be the Westfield shopping centre?

The CBI are stating that about this time next year inflation will be around 2%, the bank rate will around 2.5%, and your salary will not have increased by more than 2% (if you are lucky). So the chances are the cost of living will be affordable, your mortgage will be acceptable and you might  have a little less to spend as in 2008. So why all the talk about recession?

BECAUSE if the banks don't start lending money, your company starts losing control of its day to day cashflow needs and then it has to start cutting its overheads to work within whatever cash it can generate independently.

Which means businesses start laying off staff. Which means that if you are employed you will be fine in 2009 and if you are unemployed you will be stuffed.

In 1991 we had high inflation, high interest rates, low salary increases and growing unemployment but at least the banks lent you money.

Without cashflow businesses go bust. When banks stop lending money businesses go bust. And yet the rest of the economic statistics suggest all will be well!

What is the rescue plan for the man in the street Gordon.?

It looks like you've given all the lifebelts to the people who threw us in the water.

Location: Chigwell, Essex

Date: 18 October 2008

Weather: Bit nippy

Catering offer: Doughnut and jacket potato vendors - no ice cream van this week

In-field entertainment: No country and western singer - Yee-ha!

In-field services: Key cutting

Dwell time: 45 minutes

Total spend: £6

Number of items bought: 3

Average item price: £2

Most expensive item: Money box - £3

Cheapest item: Map - £1

Booter rating 3.5 stars  

Bought this week:

Money box - Vintage, owl, by Denmead potteries, brown china ,takes old and new money

Map - Vintage, Ramblers map, published by Geographica, Epping Forest, 1/6 old money

Figurine - 2005, Chiro, by Hasbro, manga style, Hyperfocre hero with thunder punch!

Location: Chigwell, Essex

Date: 11 October 2008

Weather: Balmy

Catering offer: Doughnut and jacket potato vendors plus.... an ice cream van

In-field entertainment: Country and western singer - again

In-field services: Tarot card reading

Dwell time: 1 hour 10 minutes

Total spend: £14

Number of items bought: 5

Average item price: £2.80

Most expensive item: Decorative bowl - £7

Cheapest item: Watch - 50p

Booter rating 4 stars  

Bought this week:

Alarm Clock - 60s, musical, plays theme from 'Bridge over the river Kwai', made in Japan

Wrist watch - 1989, Swatch, broken glass, needs battery  

Decorative bowl - 60s, fern pattern, by Burleigh Ware, glaze slightly crazed

Board game  - 1965, Cat and mouse, by Waddingtons, one mouse missing an ear

Music cassette  - 2002, Only for the barmy, by Jethro, 2 cassettes, also available on CD