{"id":2008,"date":"2009-04-27T15:58:00","date_gmt":"2009-04-27T20:58:00","guid":{"rendered":"http:\/\/selectmetrix.com\/blogs\/2009\/04\/what-sells-in-a-recession\/"},"modified":"2009-04-27T16:00:54","modified_gmt":"2009-04-27T21:00:54","slug":"what-sells-in-a-recession","status":"publish","type":"post","link":"http:\/\/selectmetrix.com\/blogs\/2009\/04\/what-sells-in-a-recession\/","title":{"rendered":"What Sells In A Recession"},"content":{"rendered":"

Here is an interesting story from abcnews.com – What Do iPhones and Designer Jeans Have in Common?<\/a>\u00a0 The answer is found in the subheading – They Keep Selling, Even in Recession.<\/p>\n

Here is a list from the article in regards to hot-selling products during this recession:<\/p>\n

The iPhone
\nDesigner jeans
\nWal-Mart and Costco
\nMcDonald’s
\nInternet access
\nHigh-definition TV sets<\/p><\/blockquote>\n
An odd list, wouldn\u2019t you say?\u00a0 The low-price options are logical, the other ones not-so-much.\u00a0 The explanation from the article:<\/p>\n
“Even in down times,” said Michael Gartenberg, vice president for strategy and analysis at Interpret LLC, “people still have some discretionary income. What happens is that they spend it more carefully.”<\/p>\n
So they look for things that will last for them — which means, for instance, that a television set will look more appealing than, say, a vacation. “They’ll get several years of use from the TV,” said Gartenberg, “but when the vacation is over, well, you have your memories, and that’s it.”<\/p><\/blockquote>\n
Now that makes sense\u2026though I have young kids so the memories of those vacations are worth quite a bit to me.<\/p>\n
Recently I have found functional upgrades to be better sales approaches than outright new purchases.\u00a0 What I mean is that companies are still investing in their production capabilities if there is a defined return on that investment.\u00a0 This approach occurs in any economy, but it is the strongest play in this<\/em> economy.<\/p>\n
I have seen companies tighten spending in \u201cnew\u201d areas, but continue to budget for enhancements in existing areas.\u00a0 One such company I encountered was in the midst of a slowdown like many other companies.\u00a0 The production team decided this was an opportune time for some needed upgrades to their capital equipment that normally would be in use for 3 shifts.\u00a0 The salesperson got the deal to upgrade it and the customer got a better price since it didn\u2019t have to be completed over a weekend.<\/p>\n
This approach is consistent with the article \u2013 companies still have some discretionary funds and they are looking for long-term improvements to their bottom line.\u00a0 As a salesperson, this is the first place to start your approach with a prospect.<\/p>\n","protected":false},"excerpt":{"rendered":"
Here is an interesting story from abcnews.com – What Do iPhones and Designer Jeans Have in Common?\u00a0 The answer is found in the subheading – They Keep Selling, Even in Recession. Here is a list from the article in regards to hot-selling products during this recession: The iPhone Designer jeans Wal-Mart and Costco McDonald’s Internet access High-definition TV sets An odd list, wouldn\u2019t you say?\u00a0 The low-price options are logical, the other ones not-so-much.\u00a0 The explanation from the article: “Even in down times,” said Michael Gartenberg, vice president for strategy and analysis at Interpret LLC, “people still have some discretionary income. What happens is that they spend it more carefully.”… Read More<\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"bgseo_title":"","bgseo_description":"","bgseo_robots_index":"","bgseo_robots_follow":"","_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_hide_featured_image":false,"_jetpack_featured_image_duplicate_dismissed":0,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[49,9],"tags":[267,209,506,142,305],"class_list":["post-2008","post","type-post","status-publish","format-standard","hentry","category-economy","category-sales-techniques","tag-sales-approach","tag-sales-focus","tag-sales-plan","tag-sales-technique","tag-selling-in-a-recession"],"jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p5Oho-wo","jetpack-related-posts":[{"id":1414,"url":"http:\/\/selectmetrix.com\/blogs\/2008\/02\/whats-hot-in-a-recession\/","url_meta":{"origin":2008,"position":0},"title":"What’s Hot In A Recession","author":"Derrick Moe","date":"February 11, 2008","format":false,"excerpt":"More stories are appearing that address \"recession-proof jobs\" in response to our slowing economy.\u00a0 Timely titles for sure, but one position is always recession-proof and that is sales; specifically successful sales. Case in point, Job Hunting in a Recession from The Wall Street Journal: Target critical posts. \"The safest jobs\u2026","rel":"","context":"In "Hiring Salespeople"","block_context":{"text":"Hiring Salespeople","link":"http:\/\/selectmetrix.com\/blogs\/category\/hiring\/hiring-salespeople\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":1547,"url":"http:\/\/selectmetrix.com\/blogs\/2008\/05\/you-cant-grow-if-you-arent-selling\/","url_meta":{"origin":2008,"position":1},"title":"“You Can’t Grow If You Aren’t Selling”","author":"Derrick Moe","date":"May 2, 2008","format":false,"excerpt":"Isn't that the truth?\u00a0 Entrepreneur.com has an excellent archived article (from 2002) titled Hire and Hire that discusses hiring salespeople during a recession (no, we're not in a recession).\u00a0 The point is valid - economic downturns are the best time to upgrade and\/or expand your sales team. Pick the right\u2026","rel":"","context":"In "Hiring Salespeople"","block_context":{"text":"Hiring Salespeople","link":"http:\/\/selectmetrix.com\/blogs\/category\/hiring\/hiring-salespeople\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":2010,"url":"http:\/\/selectmetrix.com\/blogs\/2009\/05\/bite-sized-selling\/","url_meta":{"origin":2008,"position":2},"title":"Bite-Sized Selling","author":"Derrick Moe","date":"May 5, 2009","format":false,"excerpt":"I have come across many articles recently that promote selling tips in this recession.\u00a0 One common thread runs through all of them \u2013 chase smaller deals.\u00a0 Here is an example from Inc.com - 5 Tips for Selling a Service Now: \u201cThe big change for us in 2009 is that we\u2026","rel":"","context":"In "Economy"","block_context":{"text":"Economy","link":"http:\/\/selectmetrix.com\/blogs\/category\/economy\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":2439,"url":"http:\/\/selectmetrix.com\/blogs\/2010\/10\/selling-through-cycles\/","url_meta":{"origin":2008,"position":3},"title":"Selling Through Cycles","author":"Derrick Moe","date":"October 8, 2010","format":false,"excerpt":"A thought I had about sales approaches based on economic conditions: Booming Economy \u2013 Salespeople should focus their message (value proposition) on efficiency and velocity.\u00a0 Their solution should essentially provide an improvement in productivity. Recessionary Economy \u2013 Salespeople should focus their message on reducing waste\/improving profits.\u00a0 Their solution should provide\u2026","rel":"","context":"In "Sales Techniques"","block_context":{"text":"Sales Techniques","link":"http:\/\/selectmetrix.com\/blogs\/category\/sales-techniques\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":2015,"url":"http:\/\/selectmetrix.com\/blogs\/2009\/05\/do-values-change-in-a-recession\/","url_meta":{"origin":2008,"position":4},"title":"Do Values Change In A Recession?","author":"Derrick Moe","date":"May 6, 2009","format":false,"excerpt":"That is a tough question since I think values are primarily hardwired into each of us.\u00a0 We assess this trait in sales candidates \u2013 call them motivations.\u00a0 Each person tends to have two of these motivators that drives their behaviors (some people have 3 primary motivators). We have assessed salespeople\u2026","rel":"","context":"In "Assessing"","block_context":{"text":"Assessing","link":"http:\/\/selectmetrix.com\/blogs\/category\/hiring\/assessing\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":1764,"url":"http:\/\/selectmetrix.com\/blogs\/2008\/10\/recession-retention\/","url_meta":{"origin":2008,"position":5},"title":"Recession Retention","author":"Derrick Moe","date":"October 27, 2008","format":false,"excerpt":"The economy is foremost on almost every business leader's mind right now, and rightly so.\u00a0 Many leaders look to entrench their company in a full defensive posture.\u00a0 This approach has to be incorporated, to some extent, during these economies.\u00a0 However, this is an excellent time to be aggressive in the\u2026","rel":"","context":"In "Economy"","block_context":{"text":"Economy","link":"http:\/\/selectmetrix.com\/blogs\/category\/economy\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"jetpack_featured_media_url":"","_links":{"self":[{"href":"http:\/\/selectmetrix.com\/blogs\/wp-json\/wp\/v2\/posts\/2008","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/selectmetrix.com\/blogs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/selectmetrix.com\/blogs\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/selectmetrix.com\/blogs\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"http:\/\/selectmetrix.com\/blogs\/wp-json\/wp\/v2\/comments?post=2008"}],"version-history":[{"count":1,"href":"http:\/\/selectmetrix.com\/blogs\/wp-json\/wp\/v2\/posts\/2008\/revisions"}],"predecessor-version":[{"id":2009,"href":"http:\/\/selectmetrix.com\/blogs\/wp-json\/wp\/v2\/posts\/2008\/revisions\/2009"}],"wp:attachment":[{"href":"http:\/\/selectmetrix.com\/blogs\/wp-json\/wp\/v2\/media?parent=2008"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/selectmetrix.com\/blogs\/wp-json\/wp\/v2\/categories?post=2008"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/selectmetrix.com\/blogs\/wp-json\/wp\/v2\/tags?post=2008"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}