I also refuse to participate in this
"recession?".
Remember the last so-called recession. In the election cycle for President in 1992, we had Ted Koppel, and many others in the media proclaiming the "Worst Economy in 50 Years!!" Amazingly, after Bill Clinton was declared the winner in November, that phrase disappeared from every newcasters lexicon. By late November and into December and January, all evidence of a rebounding economy were attributed to Clinton's election and how it was stimulating the public's perceptions and spending habits.
Hindsight paints a slightly different picture.
Enough on the political side, now for some capitalistic comments.
One of my first customer's helped me shape my business with one simple point he made.
I asked him how during the downturn ('85-'86) he could sell so many more cars than the dealer he had bought out. The previous owner had the dealership during the greatest economic expansion of the second half of the 20th century.
He explained that he didn't worry about the 15% unemployment. He chose to focus his advertising and marketing to the 85% who were driving to work in used cars. So stock the inventory to the max and offer them to people who are working, as the unemployed wouldn't be shopping for cars anyway.
Since I have $0 invested in the stock market, the $3000+ drop has no direct impact in my net worth. It may affect my sales, as my customers are possibly affected, so I may need to change my strategy and expand to some additional accounts.
But, since many businesses have cut back on the mass media advertising purchases, some of those unspent dollars have been shifted to targeted media, including Promotional Advertising.
For the record, the company I represent as an independent agent, posted a 8.7% increase in sales from 2000 to 2001. That includes the quarterly sales after Sep 11th.
Like them, I choose to not participate in this recession.
Dennis Bevers
Help me fight the recession, order your imprinted business advertising and executive gifts now! LOL