The financial crisis of 2009 didn’t just change the last few years, but also the next decade — how we live, how we work, how long we work, and how we perceive the future.
And most people are not seeing the future very positively right now, other than the occasional uptick in housing and a few other bright spots out there. Everything hurts and we want to be comforted. The doldrums might last longer than people think. So, while it’s not pretty, I think we’ll all be sulking looking for tiny little comforts that make us feel better. At least the next five years should see an uptick in the sale of comfort foods, anti-depressants, alcohol, and, of course, movies and entertainment to round out the escapism. People will be tight fisted in their spending habits unless they can justify that spending a few dollars makes them feel better even if it’s only for a short time. So, to pump up those coffee shop sales, how about getting some Kava tea on the menu?
So if the next decade remains a little frosty, what will people be spending their hard earned cash on? People don’t give up cheap entertainment easily. It makes them feel better. So cable and satellite TV companies should do well if they figure out how to price and package their products. Hollywood seems short on memory when it comes to uplifting movies. But, this will be a decade where uplifting movies will do well if they’re put into play.
This is also not going to be a good decade for the “great smoke out” where the American Cancer Association encourages people to kick the habit. Giving up cigarettes just got a little harder. In fact, I expect tobacco sales to rise even further and possibly pick up a new following. Designer beers and wines are out and cheap imitators are in. This will be the decade for the “substitute” products. So you wanted the Mercedes, get the Chrysler 300 instead if Chrysler manages to survive. You wanted Prada? Don’t worry, the fact that you bought used on E-Bay is our little secret (and it’s also the secret of the woman you just admired coming out of SAKs).
Things That Should Do Well
Things that we expect to do well besides, soup, cigarettes, peanut butter, and Prozac.
What’s In:
Cigarettes, Comfort Food, Alcoholic beverages, Mood Drugs, Cheap Gyms, Used books and movies, Generic brands, Used everything
What’s Out:
Steak and Lobster, Super mansions, Wines above a 92 Wines Spectator Rating, Luxury SUVs
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