Discount Retailer: Stimulating Growth in A Tanking Economy
As of this morning in his Weekly Address, President-elect, Barak Obama called for bold steps in the rebuilding process to restore our economy
and the American workforce at large. President-elect Obama states that the United States faces "an economic crisis of historic proportions,"
and more must be done to put people back to work. "I have already directed my economic team to come up with an economic recovery plan that
will mean 2.5-million more jobs by January, 2011, a plan big enough to meet the challenges we face, that I intend to sign soon after taking
office," he said. He also admits that there are no straightforward, easy or quick solutions to the economic problem and it is very likely
to get much worse before it gets better. Bold solutions to the economic disaster are not only being fought on the political front but also
on the business front. Even though our economy is in the dumps, it still stimulates growing businesses.
Entrepreneur Magazine, in the recent December issue, highlights "2009 Trends to Watch: Lucrative Opportunities in a down economy?" The article highlights what they believe to be growing business opportunities and trends to keep a close eye in the coming year. Coming as really no surprise and at the top of the list of lucrative opportunities is in the green sector: clean energy, water irrigation, alternative fuels, sustainability, green service providers and organics (food and nonfood) to mention a few. As boomers age, industries will grow. Such industries as health and financial are expected to skyrocket in the coming years. Personal health portals, point-of-care solutions, fit food, anti-aging, travel and wellness coaches were also highlighted.
The above article also highlights discount retailers as an economic trend to look out for in 2009. Lets face it, what goes up, must come down. "Consumers are no longer trading up when making their purchase decisions, but rather trading down." Rising fuel prices, the credit crunch, health care concerns, rising inflation and increasing home foreclosures all equate to one thing. Plenty of business opportunities. And more specifically for online discount retailers. Why online discount retailers? "High gas prices drive online sales: Online retail will rise 17 percent this year to $204 billion according to "The State of Retailing Online 2008" survey conducted by Forrester Research." StubDog.com, an online discount ticketing service, operating in Los Angeles, Dallas & Houston, has seen exponential growth since the downturn in the economy which points to one interesting fact. Consumers, even in times of an economic crisis, still want to enjoy themselves by going to see local live entertainment. As consumers become more frugal, they do not stop purchasing rather they become more creative and savvy in their purchasing. Online discount companies and similar business models such as StubDog.com only stand to benefit. On the other side of the coin, venues, promoters and event planners are having a difficult time filling seats to these events as people are more prone to stay at home during a recession. Consumers are spending much more time at home or closer home. They are gravitating to local venues.Weekends away and expensive family vacations are being replaced with local adventures. Putting the right price in front of consumers, not only entices individuals to get of the couch and into local venues but it also provides a service to the event planners by leveraging empty seats thus creating increased revenue for them. It's a win-win scenario!
These sort of business solutions are exactly the steps necessary to rebuild the economy and create jobs in the marketplace. Business models that not only move with the times but are sustainable, meaning, in short, they are here to stay. Online retail discount retailers, such as StubDog.com, are a perfect example of this. As not only do they provide an invaluable service in times of economic crisis, they also provide that same invaluable service when the economy is flourishing. Wall Street, the auto industry and other sectors might be feeling dismal and blue as 2009 approaches, but you can rest assure out of the ashes of the worst economic crisis since World War II, a phoenix of ideas and creative business opportunities will rise.