Direct marketers should not fold up their tents and go home. If anything, a recession is a time that many products can flourish. Categories of products that will work strongly in a recession are as follows:
1. Pet Products: people are going to vets, dog trainers and other professionals less due to finances. Products that help train pets or help solve problems such as pain, coat health, skin issues, infestation, etc. can do very well now.
2. Health Products: people are not going to Doctors as much, due to a large percentage of the population being uninsured or underinsured, so topicals, ingetibles and other types of natural solutions are growing in popularity. Over fifty per cent of Americans currently take some sort of vitamins or supplements, a huge increase over several years ago.
3. Beauty Products that solve specific problems: Less people are able to get medical treatments to solve beauty problems like thinning hair, skin damage, even issues such as lines and wrinkles. Therefore, more people look to less expensive solutions for these issues. While the beauty category in DRTV is over saturated, products that solve specific issues with a twist can do well.
4. Home Do It Yourself Products: With home prices on a precipitous decline, consumers are losing equity in their homes. The expensive projects they had considered are being replaced by smaller, do it yourself projects to add value to the home. This is a category that should see explosive growth!
5. Cooking Products: Always a great category, with folks eating out less due to the bad economy, they will seek ways to make cooking at home quicker and more enjoyable. Bring on the cooking gadgets!
6. Financial Products: People need extra money now. Any LEGITIMATE product that can help someone make additional money, save money, or sell things to make money should have a chance of doing well. I am not talking about the make millions while you sleep schemes. I am talking about realistic and honest programs to teach people how to do something that can make them or save them SOME money. NOT MILLIONS!!!!