When jobs implode, business credit lines are yanked and the bills are due, keeping green might not be at the top of anyone's list. Historically, in tough economic times, people are going to focus on their own needs first. We're already reading about the impact of disappearing banks, lost jobs, foreclosures and the immediate effects on personal spending. It's down. Predictions for the rest of the year: way down.
Here's some thoughts on general trends in the markets.
- More people trying to make ends meet to supplement income. This boosts the supply of stuff sold by small business and individual internet sellers on venues like craigslist and ebay.
- Price sensitivity and lower demand for goods in general.
- Decline of interest in luxury brands.
- Increased demand for used items, bargain items, and products with lower markups.
- Less charitable giving.
Buying green typically has status associated with it. However, many things green can become desirable in a recession.
- Lead with practical goods.
- Focus on cost savings.
- De-emphasize status.
- Show the human element of who benefits from the sale.
- Add items with lower price points.
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