SIMONE DEL ROSARIO:
WITH SO MUCH TALK OF A RECESSION, RETAILERS LIKE WALMART ARE ALREADY SOUNDING THE ALARM THAT THE PROFIT OUTLOOK ISN’T LOOKIN’ TOO HOT THIS YEAR. BUT, SOME COMPANIES ACTUALLY THRIVE DURING A DOWNTURN. WE’VE GOT SOME RECESSION-PROOF SECTORS IN THIS WEEK’S FIVE FOR FRIDAY.
WHEN TIMES ARE TOUGH, YOU NEED AN “AFFORDABLE LUXURY.” THAT’S WHY THE CANDY INDUSTRY IS NUMBER 5. CADBURY SAW RECORD PROFITS IN THE MIDST OF THE GREAT RECESSION. AND REESE’S PEANUT BUTTER CUPS LAUNCHED IN 1928, RIGHT BEFORE THE GREAT DEPRESSION- AND THEY ARE STILL THE BEST CANDY OUT THERE BY FAR. THAT’S A FACT.
BARGAIN SHOPPING DURING A RECESSION IS CRUCIAL. AT NUMBER 4, WE HAVE DISCOUNT STORES AND CONSIGNMENT SHOPS. DURING THE GREAT RECESSION IN 2008, DOLLAR TREE STORES HAD A RECORD $4.64 BILLION IN SALES, AND ITS STOCK PRICE SURGED MORE THAN 80 PERCENT. FOR HIGHER QUALITY ITEMS, SHOPPERS ALSO TURN TO THRIFT AND CONSIGNMENT SHOPS FOR DEALS, AND IF YOU ARE LOOKING TO MAKE SOME CASH, THAT’S A GOOD PLACE TO SELL TOO.
COMING IN AT NUMBER 3, REPAIR SERVICES. WHEN YOU’RE CASH STRAPPED, YOU’RE BOUND TO TRY TO FIX THAT BROKEN SCREEN OVER BUYING A BRAND NEW PHONE. FOLKS ALSO WANT TO GET EVERY LAST MILE OUT OF THEIR RIDE WHICH MEANS AUTO SHOPS FARE WELL TOO. AND, INSTEAD OF BIG RENOVATION PROJECTS, HOMEOWNERS WILL GO FOR MINOR REPAIRS, EVEN D-I-Y FIXES. HOPEFULLY YOU KNOW WHAT YOU ARE DOING.
WE’RE PUTTING THE BUDGET TRAVEL INDUSTRY AT NUMBER 2. WHETHER IT’S FOR BUSINESS, OR PLEASURE, PEOPLE WHO STILL NEED TO GET AROUND DURING A RECESSION ARE MORE LIKELY TO GO THE BUDGET AIRLINE ROUTE. EVEN IF THAT MEANS BEING CORRALLED ON A SOUTHWEST FLIGHT OR GETTING NICKEL AND DIMED ON SPIRIT. BUSES AND TRAINS ALSO GET MORE POPULAR. AND CAMPING IS A RECESSION PROOF BUSINESS REPLACING HOTELS WHEN YOU NEED TO GET AWAY.
AND OUR NUMBER 1, WELL IT’S PROBABLY NOT A SHOCKER. A STUDY FROM RESEARCHERS AT THE UNIVERSITY OF BUFFALO FOUND PEOPLE TEND TO DRINK MORE DURING A RECESSION COMPARED TO THE GOOD TIMES. THERE ARE CHANGES IN HABITS THOUGH, IN 2008,(People shopping at liquor store) BEER SALES TOOK A DIVE WHILE HARD LIQUOR SALES WENT UP. THE SAME THING HAPPENED DURING THE RECESSION OF 2001. I GUESS FOLKS ARE TRYING TO GET MORE BANG FOR THE BUCK.
WITH ALL THIS DEPRESSING DOWNTURN TALK, WE’RE JUST TRYING TO MAKE LIMONCELLO OUT OF LEMONS. HOPE IT WORKED. THAT’S YOUR FIVE FOR FRIDAY, I’M SIMONE DEL ROSARIO FOR JUST BUSINESS. SEE YOU NEXT WEEK!