More Condoms, More Apples
Recently I’ve been trying to think of ways to take advantage of the recession. Though times have changed, there are some necessities that people will never stop paying for and there are things that we classify as luxuries. There is no foolproof way to make money during a recession, but to do so you really need to think outside the box.
For example, in a recession people are more likely to stay home than leave the house to shop or eat. In turn, couples snuggle more, leading to fun times. However, in a recession, couples are looking to save! What better way to save than avoid having children? At the start of 2009, Nielsen recorded a jump of 10% in contraceptive sales (yay for condoms) while dessert novelty sales dropped 10% (Time link at bottom).
Now, for the finance savvy, I have two suggestions. One is Apple. Not only does an apple a day keep the doctor away, Apple is still an incredibly good investment. Last week JP Morgan gave AAPL a target price of $555. From recent reports, Apple has an estimated 89% retention rate among smartphone users as well as 31% of Android users likely to move to iOS (article at bottom). In short, they still have room to grow.
The second is don’t google “how to make money in a recession.” Isn’t it obvious? Someone beat you to the punch. Unless you can take their ideas and somehow make them more successful, you likely won’t succeed. Find your own ways to take advantage of the changed economy. Just because SteveSchmuck says “I made tons of moneys selling stuffs on teh intarwebs!” doesn’t mean you should.