It's not easy avoiding talk of the economy: It's featured in virtually every television news broadcast and newspaper edition, and people all around are hurting. But in every situation in which someone is losing, someone else is gaining. A variety of businesses and industries either have seen significant increases in revenues and profits, or have stayed constant despite the downturn in the economy:
- Fast food restaurants and "good value" casual dining restaurants
- Bicycles and accessories
- Motorcycle repairs and restoration
- Box office ticket sales
- Amusement/theme parks
- Lunch bags
Fast food restaurants across the board have seen increased sales, based on a higher volume of customers. People are still eating out; they're simply switching from casual dining restaurants (such as the just-closed Bennigan's) to fast food. In response, fast food restaurants are catering to people with higher expectations and are offering more healthful (and more costly) options. Two casual dining restaurants that are doing well are Olive Garden and Red Lobster, because the public perceives them as being a good value for the money (Olive Garden's "all you can eat" salad and breadsticks, Red Lobster is seen as a more affordable option when desiring seafood). Subway has lured customers away from pricier restaurants with its $5 footlong, which has seen increased sales since March of this year.
Bicycles and biking accessories are up anywhere from 10% (bikes are 10-20%) to 60% (bike locks). One commuter workshop has seen registrations quadruple.
While motorcycle sales are actually down (motorcycles are seen as luxury items, in spite of their potentially excellent gas mileage), the motorcycle repair/restoration industry is thriving. People are getting their old bikes out garages and barns and taking them in to get them road-ready.
Many people are choosing local recreational activities, such as hiking, spas and movies. Ticket sales nationwide are up 6% across the country. Economists say ticket sales normally go up when the economy is down.
While amusement/theme parks haven't enjoyed the same boom as the other quick "get away from home" activities, attendance is the same as last year at this time. While some people can't afford to visit the theme parks, others have foregone more elaborate vacations and "downgrade" to a local theme park that's more within the budget.
And with more people bringing lunch to work, ebags.com reported a 39% increase in sales of lunch bags and coolers from this time last year.
Now, if you're already in these tough-times-friendly industries, you're set! The key for the rest of us is to figure out how to predict the next industry to join the wave of success.
~Contributed by Angela~
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