What are the Best Products or Services to sell during a Recession? There is a list of 10 products and services, which are useful and you could use them during the recession. We have arrived at this list through assessing many products and services. The Hierarchy of Needs is a pyramid, in which the most basic needs are recorded in the bottom line, and the less important is to be recorded at the top.
Image Credit: Pixabay
The basic and the first is survival needs those are listed at the bottom, it includes, food, water, breathing, sleep, excretion, and sex. The second category is security, morality, employment, family health, and property. The third is Love, family, relationships, and friends. The fourth is self-esteem, confidence, respect of others and achievement. The fifth category is problem solving, spontaneity and lack of prejudice. It shows that if a service or product falls on this chart, it will be more profitable for the business at the time of the recession.
This is the general list, but as people differ the priorities can also change. If a person loves to ski instead of paying for the university, that is his priority, he can do so. He may end up being bankrupt and his son might drop out of college. Even at the time of the recession, people might not go by the rules of the pyramid.
This list tells us about the 9 best selling items during the Depression. Though we have given a record of the items, The 1 and 2 have been the only one in the check list. It shows that these things are important for the society’s needs. The list of the products and services to sell during the recession are given here.
Food and drink, Funeral Services & Baby Products, and Vices are some of the Best Products or Services to sell during a Recession. Everyone knows food and drinks will be the first on the list. Recessions give more business to grocery stores than the restaurants. The GMO-free food industry also blooms. Grocery stores like Sam’s club and Costco also get business. Birth and death are always taking place no matter what the economy faces. Babies will be born and baby items will be sold. People do die at all times and funerals also takes place in recession. The industries offering people an escape from the reality get a great boom during these times with the sale of Cigarettes, drugs, cards, and liquor.