What's Up, What's down

conolan

Saw in today's IT that mobile phone repair shops are booming in recession
http://www.irishtimes.com/newspaper/finance/2009/0306/1224242362560.html

Anyone want to suggest what's up and what's down in terms of businesses (apart from banks, builders and other obvious). What niche areas do well in recession? Which ones don't?

For a start:
Shoe repair up (got mine done)
Expensive restaurant down (going cheaper local)

delllat

im only guessing these since i have no figures to back it up but:

offlicences over pubs

cheaper supermarkets over the likes of m+s

buses over taxis where possible

online shopping over bricks n morter shops

cooking over restaurants

brown thomas +arnotts are probably losing to cheaper vendors

expensive hairdressers like petr marks

id say cinemas and bowling alleys and gokarting and paintballing would all be taking a big hit now

DubTony

delllat wrote: »

im only guessing these since i have no figures to back it up but:

offlicences over pubs

cheaper supermarkets over the likes of m+s

buses over taxis where possible

online shopping over bricks n morter shops
cooking over restaurants

brown thomas +arnotts are probably losing to cheaper vendors

expensive hairdressers like petr marks
id say cinemas and bowling alleys and gokarting and paintballing would all be taking a big hit now

Not so sure about these delllat. People will visit the supermarket sooner tha shop online to ensure they're getting the best quality / longest dates etc.

Peter Marks aren't expensive when compared with your Toni & Guys places like Pzazz. So places like Peter Mark should actually see business stay pretty much the same or just slightly slower. As people migrate from the more expensive hairdressers, they'll balance up the people who won't get the job done so often.

Cinema going usually increases in a recession as people see it as a cheap night out (as long as they aren't stuffing up on Nachos and XXXL Cokes.

I'd say your average c-store will see a reduction in business, particularly the deli as people go back to packed lunches. (Jesus, I just realised some people won't know what a packed lunch is - showing my age there).

Sellers of luxury goods will be in a tough spot, although the likes of diy stores may see business hold as people stop hiring contractors and do their own home improvements. Furniture is an area I'd also feel wills ee a fall.

What's going up? ALDI and LIDL are the obvious answers.
Your average discount stoe (pound shop) should do ok.
More people are hitting the markets as well. My uncle's been doing them for years and he said business is getting better by the week.
Back street mechanics. I know one guy who's busier than he has been in 10 years. He actually came close to closing his doors a year ago as so many people were going to main dealers for servicing. "This is my Celtic Tiger" he said. He's loving it and beig forced to turn down work.

This recession is so different to the 80's in so many ways. Back then, people were frugal enough anyway. The country certainly wasn't booming beforehand, and we weren't all up to our eyes with personal debt. We're living in interesting times.

Rex Manning

delllat wrote: »

im only guessing these since i have no figures to back it up but:



id say cinemas and bowling alleys and gokarting and paintballing would all be taking a big hit now

I was at the cinema the other night and the queue was massive, out the door and around the corner. Hadn't seen a queue that big in about 10 years (first night of some james bond film, back when they were good!). cineworld's share price has gone up about 10-15% in less than a year - so reckon cinemas will do ok.

Another trade on the way up is clothes alteration shops - i live in edinburgh and 3 have opened up nearby in the last year or so, suppose apart from rent the over heads are low enough, they seem to be 1 man/woman shows. Also there's a load of shops offering dry cleaning services (you can drop your stuff in and then pick it up from them a couple of days later). Not too sure why this is, but it's places like furniture shops are doing it - must be struggling and reckon the commision would be a little earner.

The only shops round me that are shutting down are sports shops

Sleepy

Furniture / Home Stores - way down. Plenty closing already and those left can't have long left. People aren't going to re-do the living room every couple of years any more.

Computer & Laptop Repair Up - New machine sales down

Console Games / Singstar / Guitar Hero type stuff up in line with off-sales

Card Clubs & Bookies probably won't be hit too hard

VO

Payroll Bureaus
Bookkeeping Services
Virtual Offices
Virtual Receptionist Services

all up

Training
Advertising
Marketing
Stationery

All down

um7y1h83ge06nx

Sleepy wrote: »

Computer & Laptop Repair Up - New machine sales down

Yes and no I think.

I have noticed from calls I get from my part-time business in my sig below(shameless plug! ) that people will want their old PCs repaired.

However, people are also aware that the prices of PCs and laptops are rapidly dropping and that it may be a better option to just buy a new machine if a repair could be expensive.

Also the increaseing popularity of Netbooks could affect repairs as PCs become more disposable. The PC repair guy could go the same way as the TV repair guy (except for things like data recovery etc.).

My 2 cents.

Rex Manning

John Prehistoric Rover wrote: »

Yes and no I think.

The PC repair guy could go the same way as the TV repair guy (except for things like data recovery etc.).

My 2 cents.

I think the tv guy could be back soon - people have super dooper expensive flat screen tvs that may start to fail (new enough technology so it may not be as resilient as the big old school CRT tvs). As they've shelled out quite a bit for them they'll probably want to repair them as cash might be tight and a new tv may not be an option - especailly if they tv's were bought on HP/credit

delllat

Rex Manning wrote: »

I think the tv guy could be back soon - people have super dooper expensive flat screen tvs that may start to fail (new enough technology so it may not be as resilient as the big old school CRT tvs). As they've shelled out quite a bit for them they'll probably want to repair them as cash might be tight and a new tv may not be an option - especailly if they tv's were bought on HP/credit

dont know if iits true or not but i heard someone saying if your plasma tv is over 2 yrs old and it dies its more econommical to get a new one