The article highlights several product categories that saw sales increases last year as follows:
- Personal Care, gyms
- Video Games, SmartPhones and netbooks
- Toy building sets
- Car maintenance
- Dress casual shoes
- Movie tickets
THE REAL WORLD RETAILING TAKEAWAY
Recessions typically spur customers to seek comfort or a sense of escape.
Having worked in the beauty business, we saw sales of cosmetics soar
during down times. That’s simply because a tube of lipstick wasn’t a
lot of money, but it made someone feel better.
And if you look closely, a majority of the catories — personal care,
gyms, movies, restaurants, electronics – they’re all about making you
feel better or serve as a diversion.
Escaping to a movie is cheaper than escaping to Hawaii. And that’s what consumers need right now.
Don’t rush out to create a merchandise mix that you think offers an
escape or a diversion unless it makes sense for your overall
merchandising strategy. If you do have some items in your store that
you think fit the bill, then highlight them and call your customers’
attention to them.
What products do you carry that you think can help customers escape?