With the economy heading south and unemployment continuing to rise, consumers have been pulling back on their spending in order to have more money available for day to day necessities.  Certain areas of the economy are more susceptible to the downturn than others; and as spending has dried up, manufacturers and retailers in those segments have started offering big discounts to entice buyers. 

The Bureau of Economic Analysis recently identified a number of different areas where spending has fallen off.  If you’re in the market for goods in one of these areas, you can likely find some pretty good bargains.  They include:

• Autos – Almost all of the automakers are hurting at the moment; and many are offering large incentives in order to move inventory.  A friend of mine recently picked up a $17,000 Ford pickup for just over $10,000.  Not bad.
• Boats – Considered by many to be a leisure expenditure, boat makers are facing not only an economic downturn, but the end of the boating season as well. 
• Furniture – Many people tend to buy new furniture when they move into a new home; and with housing in the dumps, furniture makers are feeling the pain. 
• Appliances – Like furniture, appliance manufacturers aren’t moving as many products due to the slowdown in housing.  In fact, Whirlpool just announced that they plan to layoff 5,000 workers.
• Clothing – Apparel purchases are down close to 12%; and retailers have been running sales like mad to try and make up for the shortfall in revenue.
• Vacations – According to the conference board, the number of families with plans to vacation in the next 6 months has fallen by 10.4%.  As a result, a number of resorts, casinos, and airlines have begun to run promotions.
• Dining – Off by about 4%, dining has not dried up as much as some other sectors of the economy.  However, places like restaurant.com have been offering deeper discounts on a more frequent basis.
• Sporting Equipment – Like boats, sporting equipment is considered by many to be a leisure expenditure.  Spending in this area is off by 6%
• Jewelry – Spending is off by 5.3%.  And with gold prices down and the dollar quickly strengthening against the euro, it may be a great time to buy that fine watch or other jewelry that you’ve had your eye on.

Bookmark/Search this post with:

Delicious  •   Digg  •   StumbleUpon  •   Reddit  •   Facebook  •   Google