A joint of beef is a third of the price it was a year ago. Shoes? You wouldn''t want to be paying full price for shoes at the moment! Airlines such as BA are cutting the price of a ticket as they attempt to limit the damage of their losses.
But what does this mean for PR? Is the average unit of PR a third of the price it was a year ago? In some agencies I bet it is. Is the cost of PR services down on a year ago? Again, depends what you''re talking about but if BA is a client and they have made a £500m loss, when it comes to haggling on this year''s press cuttings service you can imagine how well the 2008 ratecard will go down!
So where will this all end - who knows? I guess economic rule of supply and demand will be a factor and no doubt those green shoots will help. And then when "normality" returns comes the conversation about trying to get prices up to pre 2009 levels.... Interesting times!
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