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Posts Tagged ‘economy

mothers-day-shopping2It is all about discounts and downgrades this Mother’s Day, as consumers are scaling back purchases wherever possible.  All holiday-related categories will experience massive declines and total sales are expected to drop a whopping 14.7 percent, to $12.9 billion, according to industry research firm IBISWorld

“The economy is staring at a very steep, downward trajectory,” explained George Van Horn, senior analyst with IBISWorld.  “With the economic picture so unclear, gift giving just isn’t in many household budgets – even if it is for mom.”

Those who do make purchases are staying away from department stores and speciality retailers (i.e. jewelers, florists, consumer electronic stores, etc.) and are instead opting to shop in discount outlets.  The data also shows a strong trend of shoppers downgrading their gift purchases to smaller, lower-priced merchandise and services.  The reality is that consumers will choose to make a home-cooked meal for mom rather then spend big in a fancy restaurant. 

“This Mother’s Day we are seeing the reality of how difficult the situation has become,” said Van Horn.  Two years of economic decline is being squeezed into one year’s reduction in spending.

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Locked Up

With the economy in trouble, it seems that security is among one of home owners’ major concerns.

According to Larson Brewer, the owner of Phoenix-based Suncoast Security, the company’s alarm installations grew from 15 per week in 2008 to 25 per week in 2009.  Suncoast is adding as many as 17 jobs to its staff and has plans to expand to Colorado and Washington to meet the rising demand for security.

“New business is coming from residents and business owners concerned that they will see an increase in break-ins because of the down economy,” explained Brewer.  “Crime is not going down.  In fact, it’s gone up and we expect it to continue to rise.”

What do industry analysts say?

“Security alarm systems are considered a discretionary purchase, therefore revenue is expected to decline 2.3 percent in 2009,” explained George Van Horn, senior analyst with industry research firm IBISWorld.  “Last year, about 65 percent of alarm systems were purchased from businesses, 20 percent from government centers and 15 percent residential.  An increase in demand may be a reflection of recent budget cuts in local police forces.”

Is your home protected Marvelous Girls?  If you don’t have an alarm system in your house, you should really think about getting one.  Better safe than sorry when it involves you and your family.

Photo by Scyza

Photo by Scyza

Companies like Ubisoft are trying to get a piece of the female demographic with games like Fashion Designer, Movie Star and Babyz, but they may not be putting all their eggs in one basket. 

Demand from the female demographic is expected to slow according to industry research firm IBISWorld, and for this reason gaming companies may refocus on their loyal, most important demographic – young male gamers.

Reasons:

 

• The recession is hurting female spending on games more than male spending.  Male gamers are more inclined to consider gaming as a ‘compulsory’ expense than women, for whom it is unequivocally a luxury.

 

• The popularity of communal games such as Guitar Hero, SingStar and the Wii console’s offerings have been far more popular than strictly female-oriented games. 

 

These factors will all combine to slow growth in female gaming.  By 2013, IBISWorld expects female gamers to represent around 41 percent of all gamers.