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.