Even in an economic downtown, we’ll find little ways to treat ourselves. We seek comfort in simple luxuries that provide us with value. It’s no surprise that certain comfort luxuries are doing well in the recession. They’re experiencing increasing profits. In return, consumers are still reaching out for these pampering purchases. Entrepreneur highlights industries that are doing well.
Well-crafted jeans are still seen as a great investment. While the apparel industry has seen profits decrease by 6%, the luxury jeans have experienced double digit growth.
Chocolate remains a comfort luxury. Chocolate giants Hershey and Cadbury have reported gains this year against the economic downtown. Boutique chocolate shops seem to be holding their own as well. Proves that consumers aren’t willing to give up their love of chocolate.
Video games are beyond the term “luxury”. It’s a culture to be reckoned with. Revenue within this industry is a mind-boggling $57 billion in revenue. Experts say that the on-line video game industry is still full of potential. When it comes to recession, it just doesn’t apply in this category.
Beer is no surprise. However, a new niche is evolving within the category: micro-breweries. They seem to be holding their own in this economic climate, reaching double-digit growth this year.
Whether you see a potential for investments or for business, there’s endless opportunity. Look around. What luxuries do you see people clinging to? Find a way to capitalize off of it.
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