BATELEUR KHANYA

Economic history shows that consumer behaviour changes lag behind the advent of economic recession. At the outset they are in denial, and carry on behaving like they did before. Then the reality kicks in, and they embark on their frugality programmes. The witnessing of job losses is a potent trigger for consumers to change. As a rule of thumb, businesses that were struggling in good times do worse in recessionary times, than those that were doing well in good times. Recessions amplify poor business performance. Businesses that were doing well will suffer less than those that were already doing badly. Neither of these groups have debt - the twenty-somethings haven't yet acquired it, and the fifty-somethings have paid it off. These might be good consumers to target with your products and services.