Tough times have a huge impact on what we buy, and what we don’t. In light of recent sales figures related to the brightly colored foam clogs known as Crocs and the mail-order DVD service known as Netflix, we’ve got two interesting recession case studies.
Crocs, according the the LA Times, were “so economic boom.” More than 100 million pairs were sold in seven years. But apparently, now cheap flip-flops will do just fine for consumers. The company lost $185 million last year, and 2,000 jobs were eliminated.
Netflix, meanwhile, is booming now that people realize that renting DVDs makes a lot more sense than buying. Profits at Netflix have jumped 22 percent, while DVD sales are down more than 13 percent.
Check out what other products are experiencing sales growth during the recession, including condoms, fast food, and romance novels. And read what’s an even better deal than Netflix when it comes to renting DVDs.