Thrift shops and traditional food stores could benefit from the credit crunch as Londoners cook at home and look to save cash on new goods.
With one hand gripping a juicey slab of rib-eye and the other poised with a mean-looking steak knife, Adrian Field takes direction from a customer at Kingsland Edwardian Butchers.
"Cut it this side of £20... definitely not up to £25," says regular Althea Bunce.
It is a conversation Mrs Bunce, a former investment banker, admits she probably would not have had when buying meat at the Portobello Road butchers six months ago.
But that was before Britain's economy tumbled into the abyss, taking with it the capital's house prices, thousands of jobs and consumer confidence.
The Bunce family, who live in Kensington Park Road, had a "restrained'' Christmas and like the majority of west London families are braced for a tough 2009. Fewer meals out, shopping trips and holidays will be taken while she prepares her family to weather the worst economic storm endured by the capital for decades.
But there is a flip side to her new austerity and businesses such Mr Field's could be the beneficiaries.
His butchers sells premium cuts of meat to a largely wealthy Notting Hill clientele and, he says, more home cooking should be a boon to his trade.
"But it's very early days. We had a good Christmas and things are quieter now, as you expect in January," he said.
"My hope is that more people holding dinner parties might stop by here but you just don't know how far the economy is going to fall."
The 'Buy, Sell and Exchange' thrift stores along Notting Hill Gate and Pembridge Road also say takings are up as the appetite for buying new things shrinks.
In Kingsland's the chat turns to who is to blame.
Like many Mr Field says greedy and careless banks did the damage.
"The financial institutions do have a lot to answer for," Mrs Bunce counters. "The bonus culture may have got out of hand. But investment bankers are an easy target and I think it's only right that people are rewarded - to the right level - for the long hours and hard work they put in."
That the tremors caused by the downturn are already being felt in this rarified corner of Notting Hill, augurs badly for the quieter areas of west London.
Which businesses survive is in the balance and, as the shuttered shopfront to Woolworths in Portobello Road attests, reputation alone will not be enough to keep the wolves from the door.
The owners of small businesses in Notting Hill are feeling exposed, with little in reserve to cover a shortfall in sales.
Jake Kaptan manager of the ominous sounding Who's Next? clothes shop, in Pembridge Road, fears the falling value of the pound may not be enough to keep tourists coming to London's most fashionable corner.
"This is a global issue and people are feeling poorer everywhere you go. Like everyone we are praying for better times ahead, but I fear people are going to stop spending for a long time. What happens then? I don't know, but I'm feeling it. Christmas was definitely cancelled this year."
Shops have resorted to heavy discounting in a effort to keep footfall up. On Tuesday afternoon 'Sale' signs were pasted in almost every Portobello shop window, some offering up to 50 per cent off despite the lack of customers in an area reliant on weekend trade.
It may be a good time for consumers with bargains on everything from antique furniture to lunchtime snacks on offer.
'Humble Pie' manager Galena Baeva, 24, can barely hide her dejection in an empty shop.
"Today we cut our pie prices. I hope it works but I think people are spending less money on lunch or going to Tesco to make their own.
"I really don't know what to expect but the more people talk about the recession the worse it seems to become."