There Are Industries That Haven't Been Slammed by Economic Downturn

OK, I admit I was wrong. In various posts at Financial Armageddon -- see "Another Industry that Is Not Recession-Proof," "Postponable Luxuries," "More Exposed than You Might Think" -- I've said or suggested that there are few, if any, areas of the economy that have not been slammed by the current crisis-cum-downturn. But that is apparently not to be the case. Some categories of goods and services are not only holding their own, but are actually experiencing an increase in demand. In "Hot in Recession: Chocolate, Running Shoes, Spam," the Associated Press highlights a number of them.

Bucking the recession: Sales of chocolate, running sneakers, Spam, plant seeds, cheaper wines

Strong sales of Spam, Dinty Moore stew and chili helped Hormel Foods Corp. (HRL) post a 6 percent increase in first quarter sales in its grocery products unit.

Consumers have trimmed household budgets and postponed buying cars, major appliances and other big-ticket items. Yet they still are willing to shell out for small indulgences and goods that make life more comfortable at home, where they are spending more time.

Recession shoppers also are drawn to items that make them feel safe, both personally and financially.

Comments

[granger:]

Good stuff. I was talking to my grandmother and picking her brain few months ago. She told me: candy, gardening and coffee shops.

May 17 04:18 PM

[Gregman2:]

Nothin like a little swill from two buck Chuck, before taking a ride on the Hershey highway.;-)

May 17 10:31 PM

[Roger Knights:]

Here's another quote from that AP story:

"Sales of stomach remedy tablets ... climbed 8 percent."

Yo ho ho and a bottle of Tums.

May 17 11:03 PM

[User 415850:]

yep, garden seeds to eat later, homegrown food has so much taste, it's seems better than having a closet full of canned so-called food loaded with sodium. living in the southern cal area, it's a real luxury to be able to grow food ten months of the year. water rationing isnt that big a deal if you are wise about it

May 18 11:24 AM