Predictions For A Challenged Economy

As retail sales plummet across all major verticals and job losses continue at record pace, I thought I’d share some predictions for the near to mid-term future of consumer behavior.

• Sales of non-essentials will remain flat.
• Homemade gifts will become popular.
• Sales of arts & crafts materials will grow (i.e.: fabrics, decorative papers, glues, fasteners, etc.)
• Designer clothing will sell at discount prices.
• Housing sale will remain flat.
• Renting will become the predominant primary housing format.
• Cellphone usage will rise, but plan rates will fall.
• Online entertainment consumption will not grow as fast as expected.
• Movie attendance will grow.
• Live entertainment sales will fall (even more).
• Intra-personaL transactions will rise as people share more amongst themselves.

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