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Posts with tag RecessionProof

What are you eating during a recession?

Filed under: Food, Recession

empty fridgeWhoa man! The recession is like totally upon us! What am I going to eat for dinner? I think I will head to the local store and stock up on some shrimp, fettuccine, Now & Laters, Miller High Life and some pasta sauce. These wonderful staples represent the foods that the Nielsen research company identified in a recent study as the most recession proof foods. In order to find out exactly which goods rank the highest on Maslow's hierarchy of needs during a recession, the researchers looked at the performance of certain food goods during past recessions.

During this study they also found out which items are the most susceptible to a tanking economy. These include items such as pop, eggs and cigarettes, as well as food storage items and plates. I can definitely understand the drop off in cigarettes and pop but the egg avoidance in particular stands out as a shocker. Since eggs seem like an excellent source of low cost protein I can only guess that the downturn could be attributed to more people foregoing breakfast or switching to store brand dry cereal, though cereal doesn't show up as a recession proof good.

While I do find the selection of goods which weather a recession well surprising in some areas, I can get behind the fact that when times get tough, people can rationalize an item such as beer as an escape or even picking up a king size candy bar as a cheap meal replacement. We haven't altered our food intake significantly in any of these areas. Since it is summer time we have been "feasting" on cheap chicken and sales on beef products for grilling at our local stores. We have also been eating more salad, which can be had pretty cheap, and lunching on any leftovers.

Has the economic downturn affected your diet yet? What foods will you run to and what will your holdouts be?

Are you living in a recession proof city?

Filed under: Real Estate, Career, Recession

San antonioWe have already covered recession proof jobs and recession proof demographics, but now you can find recession proof cities to live in. Forbes has compiled a listing of the top ten cities to weather out a recession in. The study looked at 50 different metro areas in the U.S. and based the ranking on many factors including unemployment data, non farm job growth and median home prices. Forbes didn't just look at static data to determine these top cities, they also looked at projections based on a November 2007 study regarding metro areas and the current economy adding more value to the list overall.

Just because these ten cities from San Jose to Raleigh are predicted to weather a recession well, doesn't mean you should call up U-Haul and plan you move just yet. If you are already settled down in a city with a job and your house isn't going into foreclosure anytime soon the move may be more trouble than it is worth. On the other hand if you are looking for a fresh start or you just graduated these cities might be the best places to focus your search for a slice of the American dream.

If we were going to pick up and head to any of these metro areas to get through the recession it would definitely be San Antonio. Not only is it a spectacular city, the housing market is doing well and it has good employment numbers. The biggest downside to picking up and moving to a recession proof city is that you will likely be paying more for a house in the strong local market and taking a hit trying to unload your current home in small-town USA.

Top 10 jobs for riding out the recession

Filed under: Career, Recession

Money Magazine compiled a listing of the top ten jobs to have during a recession and thankfully I currently have one of the best jobs to hold during a recession. The list of recession resistant careers was determined using Bureau of Labor stats and Payscale experts and identifies white collar careers which for many different reasons will remain strong through an economic downturn.

I don't disagree that the careers they picked will be in high demand in the coming years, though there are a few you won't find me taking up anytime soon including "teacher". I don't feel like taking a job which may as well be subtitled miracle worker, due to "No Child Left Behind" goals and budget cuts just to get through a recession. Being an "Environmental Specialist" on the other hand sounds rather exciting; Smith, Josh Smith, Environmental Specialist!

I will be taking on another position in the fall as a college professor, furthering my ability to ride out a recession. As Money points out, being a nerd really does pay off! Though not everyone may consider it a career, I am surprised that entrepreneur didn't make the list. In tough times, new needs can be identified while cash strapped consumers are eschewing products which no longer fit their lifestyle.

Retailers target teens to ride out recession

Filed under: Kids and Money, Shopping, Recession

Watch out! Major retailers believe they have found a "recession proof" group of shoppers -- your teenager.

In a bid to avoid the closing of stores at malls nationwide, retailers are looking to capitalize on the influence teens have over household purchases. They believe that middle class teens won't feel the affects of a recession. Research shows that teens influence 90% of grocery and apparel purchases. Many stores are changing displays and using big names to lure a trend conscious younger market in their doors. The hope is that parents will come along too and buy items as well, further boosting the stores sales in an otherwise difficult time.

I see several issues with this strategy, one, which USA Today points out, is that children typically do not shop in the same stores their parents do. Call it rebellion or a strange fashion sense, but the last place most teenagers want to go is the same store their mom just bought a pantsuit at.

The second issue is, even teenagers who can't drive don't like to go shopping with their parents. Growing up, my sister and I would beg to be dropped off at the local mall with cash or mom's credit card rather than be forced to try on a plethora of clothes with mom in tow. If teens don't want to be in the same building, let alone the same store with their parents retailers will have difficulty raking in the extra impulse buys from parents.

Finally, if your teenager is influencing 90% of the grocery and apparel purchases for your household, you better be raking in the cash, because from my personal experience, teens tend to have expensive taste in clothing and food. Next time you head to the grocery store leave Johnny at home and during your next trip to the mall, show Suzy where TJ Maxx is.

On *not* raising prices: Customer loyalty can go both ways

Filed under: Bargains, Saving, Shopping, Relationships

Signs explaining how management has no choice but to pass along their increasing costs to the end consumer are becoming as familiar a point-of-sale display as an Am-ex tent card. Everything from a carton of eggs at the supermarket to the paper cup for my coffee comes with a side order of doom these days.

So it was refreshing, to say the least, to receive this in an e-letter from a Little Rock, Arkansas business yesterday:


NO HIGHER PRICES!

Boulevards answer to the unbelievably higher prices for flour, (from $10 a bag to $29 a bag), butter, eggs, and all other commodities is to be more efficient, waste less, to work harder, and to build volume through great service and exceptional quality products, (we are working tirelessly to improve service daily)!


You will NOT see a price increase for the foreseeable future! Please continue to support us, every customer is SO appreciated and loved!!!


-Scott McGehee, Boulevard Bread Co.


I called up Scott, who owns and operates the coffee/gourmet food shop, beloved by local hoity-toities and hipsters alike, to ask him about this radical departure from the herd. He told me that he is determined to find reasonable alternatives to making his customers carry the burden of his increased costs. How novel. Most other businesses seem to turn to the consumer's wallet as a line of first defense, not the last resort.


Last week, Walletpopper Zac Bissonette wrote about the dividends of honest customer service. Is goodwill toward an establishment money in the bank? If so, strategies like Boulevard's might yield better returns in the long run than the usual "we're suffering, so should you" line.


Have you heard of any businesses in your community taking a similar approach?


Kyran Pittman blogs about life at Notes to Self. Her essays have been featured three times in Good Housekeeping magazine's "Good Reads" section.