Out-of-control gasoline prices and a plummeting U.S. housing market have pushed a growing group of American economists concerned that the American economy could slip into a recession in the fourth quarter of this year.
The Wall Street Journal reported Wednesday that the New York-based Conference Board — a business forecast organization — just reported that American consumer confidence has plummeted to its lowest level since 1992 — the last time the country experienced a recession.
At the same time, a majority of tanning facilities have reported that sales have met or exceeded 2007 levels so far this year. So is the tanning business recession-proof?
One school of thought is that consumers turn to tanning as an escape when the economy slows — a theory supported by the fact that beauty product sales tend to increase in slow times.
Other people believe that people who cut back on vacations will tan instead.
And while gasoline prices have eroded disposable income for many, the spread of the vitamin D message this year may be responsible for improved consumer confidence in tanning, which could be offsetting economic news.
Smart Tan Retail Consultant Rick Segel will be presenting, “How to Thrive During a Slowing Economy” at Smart Tan’s Educational Conference Sept. 19-21 at the ITA Indoor Tanning World Expo. Segel knows the keys to surviving in and even taking advantage of a weak economy. Businesses can thrive during economic downturns and recessions if they know the right strategies to use. Economic slowdowns create opportunities when competitors cut back their marketing efforts, suppliers are more willing to negotiate and lower interest rates prevail. Doom and gloom will become a self-fulfilling prophecy for those who believe in them. This seminar will show you the strategies that will teach you how to:
Call Smart Tan at 800-652-3269 (or 866-795-3755 in Canada) for more information and to register today.