The Hobby Market Will Be Seriously Hit In The Economic Recession

Americans are feeling the pinch of the economic recession and are expected to drastically cut back on discretionary purchases over the next several months.

So what does that mean for those of us whose livelihoods depend on online sales to the American

Unfortunately, I believe that hobby markets like golfing, fishing, crafting and so on, will take some of the biggest hits in an economic recession.

When faced with mortgage foreclosure, declining stock portfolios and increasing credit card rates, spending on hobbies is one of the first things to go.

But it’s not all doom and gloom. One way to keep your sales coming in these niches is to make it about stress relief. Have a trusted friend write a testimonial for your site talking about how relaxing your hobby is.

For example – “With all the stress in my life about mortgages and credit cards, I love being able to escape it all with a round of golf with my buddies.”

Even people who are on the strictest of budgets will fail occasionally and make a discretionary purchase. After all, we’re only human – we want to keep doing the things we enjoy, even if we know our financial situation doesn’t permit it.

Play to this desire by emphasizing the hobby’s stress relieving properties and you’ll continue to get sales from people who have fallen off the budget bandwagon.

Which niche market are you into? There are more some more interesting read on how to recession-proof your business… continue reading ‘How To Sell In Any Market Manual‘.







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3 Comments so far

  1. Armen Shirvanian on October 18th, 2008

    The hobby market, along with numerous other markets that require a country booming with success, sure will feel a different response from consumers. This idea of explaining it as being about stress relief sure is a good way to turn things around.

  2. JOnathanBoettcher on October 28th, 2008

    [...] Some people turn to hobbies for stress relief, some people will axe their spending on hobbies. Jenny How thinks that hobby markets will suffer, unless you can work that stress relief [...]

  3. Alex Foley on June 2nd, 2009

    As someone who owns an hobby retail store online, I found this post quite interesting to read. I would imagine the spike in prescriptions for anti-depressants and anti-anxiety medication would be a positive indicator that hobbyists haven’t let the economy keep them from what really makes them happy :)

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