The current economic situation seems to be turning from a credit crunch into a world economic crisis it seems. With the US government in turmoil over a multi billion dollar rescue package and both the US and UK economies suffering downturns. It seems focus has been taken off our own government in the blame game for the crisis as the whole world begins to suffer the effects of the crisis.
Chess sets might not be the first thing you associate with a financial crisis but the market for chess products is sure to be affected by the current situation. The vast majority of chess sets are imported, usually from places like India, China, Poland and Taiwan. While the pound and dollar were strong it was very cost effective to buy chess products from these countries. But with a weakening of both currencies it’s certain that the landed cost price of the sets coming into the country will have to rise.
Because cheap chess sets are often sold by small businesses or enthusiasts we can expect to see a number of retailers go under during the crisis. For those who set themselves up in times of economic boom when spending power was powerful things are going to become extremely tough. Not only will their costs increase but their selling prices may fall as demand slows and sales fall.
Chess however is one of those things that is not a fad, a passing phase or a seasonal game. It’s so well established as a game that it’s popularity has survived all manor of changes in society and it’s showing no signs of going away any time soon. It will be this that keeps the chess market going through these hard times.