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What Goes Up in a Down Economy

What Goes Up in a Down Economy
Written by
Crypto Queen
Published on
April 19, 2019
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Comprising up to 75% of GDP, consumer spending is the most powerful force for the economy, especially during a recession. When the budget is tight, we still make room for necessities and the occasional treats; and these purchases begin to add up.

So what survives in a down economy? Though everyone prioritizes a little different and no two people will experience a recession in exactly the same way, spending trends reveal what industries rise to the surface during an economic downturn. Spending on alcohol stayed steady during the Great Recession and excessive consumption of booze rose during that time. US sales of alcoholic beverages rose by $2 billion in the years between 2008 and 2011, with tobacco, tattoos, and even candy showing similar trends. It’s not just our vices that keep us going during an economic downturn, though; healthcare, certain industries of retail, and even funerary services also seem to survive economic dips. What’s their secret and what can we learn from them?

See this infographic for more on what we can learn from businesses that go up in a down economy, what these lessons may mean for your own industry, and how to keep your business going strong no matter the state of the economy.

Source: Great Business Schools

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