With all the bad news surrounding the economy in recent years, it’s easy to get swallowed up by the general feeling of doom and gloom. But does every cloud have a silver lining? Azam Marketing’s Senior Account Manager takes a look at the success stories of the credit crunch.
In today’s hard times, it’s pleasing to hear that there are some business sectors who are actually enjoying a period of positive growth!
LOVEFiLM have reported a 40% increase in subscriptions since January as more people choose to spend their Saturday nights on the sofa rather than going drinking/clubbing in town. Comedy DVDs are particularly in demand as customers seek to cheer themselves up and find a temporary escape from their economic woes.
The increased number of people staying indoors has also had a positive impact on fast food outlets such as Domino’s and Pizza Hut, who have stepped up to the mark by offering bargain meal deals to families and couples who might normally splash out on meals out at fancy restaurants.
Surprisingly, underwear sales are up for one of Azam Marketing’s clients, froggybank.co.uk. Based on a report released by the site showing underwear sales increased 2%, the Walletpop website in the United States published an article amusingly entitled When the economy gets tough, the Brits buy…bras? in which my colleague Nadeem is quoted. The theory is affordable luxuries and small treats are becoming more important as people cut back on more expensive purchases.
Perhaps most satisfyingly, the credit crunch has proven that even in tough times, love is not dead. Dating websites such as Match.com are seeing significant increases in traffic and site registrations as people opt to find love online rather than spending expensive nights out in pubs, bars and nightclubs in pursuit of a partner.
Not everyone is saving, however. Although the majority of households are visibly tightening their belts, luxury retailers such as Cartier and De Beers have reported an increase in jewellery and diamond sales as wealthy customers opt to invest in trusted commodities.
With Mother’s Day around the corner, it will be interesting to see whether people will forego the expensive flowers and chocolates in favour of treating their mums to a budget day of treats instead! Mother’s Day has traditionally always been one of the busiest days for restaurants and pubs, but perhaps this year mothers can expect to receive a takeaway pizza at home and a handmade card instead?
Client News: A new product feed is available for Trust William on Webgains. The natural healthcare specialist, which has a 160 year history in the sector, has got the perfect gifts for Mother’s Day. Take advantage of huge 20% commission rate, a generous 120 day cookie, and fantastic voucher codes. Contact karen [at] azam.net for more details.
6 Responses
Sinead
March 5th, 2009 at 8:29 am
1Well done, Karen. I enjoyed reading your article, it makes a welcome change from all the negative stories we have been hearing about businesses lately.
Ben
March 11th, 2009 at 4:00 pm
2Are the price comparison sites also seeing increased activity as customers try to find the best deals?
Karen Clayton
March 11th, 2009 at 4:18 pm
3Hi Ben. Undoubtedly, price comparison websites are coming into their own now that the recession is hitting and people are more inclined to search around for the best deals. I’ve certainly noticed a lot more price comparison adverts on TV lately and I think these sites will be very useful to families looking for a cheaper holiday this Summer.
El Director
March 12th, 2009 at 12:28 am
4I am surprised that people are making an effort to support small businesses? A more caring, sharing Britain as a result of ‘the crunch’?
Karen Clayton
March 12th, 2009 at 3:52 pm
5Thanks for your comment El Director. I agree that this was a surprising statistic. It’s nice to think that people are trying to save their local shops, but in the credit crunch I’d imagine that shoppers would be more likely to take advantage of the “stack ’em high, sell ’em cheap” tactics of the major supermarkets who have all the buying power.
What does everyone else think?
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