As we approach the end of 2022 there is a bit of uncertainty in the air…
Inflation has risen to an all time high and the stock markets are on a downward trend, so what does that mean for the holiday season?
It means that people are preparing for the unknown by budgeting, watching their spending, and saving for the unexpected so EXPECT your sales to be affected. Due to a prolonged labor shortage, supply chain disruptions, and some chaos in the energy market, it makes it hard to predict where the U.S. economy is headed and what factors are influencing the rise in inflation that could trigger a recession. Also, the upcoming election results have huge repercussions for the national economy and that could affect everyone’s pocketbooks.
FACT: These days consumers have grown smarter by watching the economic trends which then depicts how and what they buy. This month has proven that people are preparing for the unknown by stocking up on necessary products and spending less on things that they don’t actually need to survive.
The current inflation rate is at 7.7% according to the chart below which means things are more expensive than ever before and that is a cause for concern.
In a recent interview, Jamie Dimon, the chief executive of JPMorgan Chase, stated that a “hurricane” is coming our way and that “you better brace yourself” – suggesting that we are heading for a recession.
Another MAJOR economic factor to mention…
Bitcoin has been predicted to crash in 2022 and the value of the cryptocurrency has already fallen dramatically this month. It’s been said that Bitcoin’s worth could tank as low as $10,000 per coin and experts say this could be a bad overall year for Bitcoin investors.
The Financial Conduct Authority (FCA) has released a statement saying that anyone investing in crypto should be prepared to lose everything-YIKES!
Also, did you know that Bitcoin prices are driven by four main factors:
According to a recent poll from the Wall Street Journal, with inflation being the overriding factor, over 80% of surveyed consumers described the economy as “poor” or “not so good.” In a more personal take, over 35% stated that they felt unsatisfied with their own financial situation.
So here’s the thing, inflation does not directly cause a recession but the Fed’s efforts to control inflation by raising interest rates could cause one. And on the other end of the spectrum, companies that provide goods and services that we can’t go without can actually perform pretty well during a recession such as energy providers, discount retail, healthcare providers and supermarket chains.
Now if your business falls into those above categories, you will not be affected as much but you still want to keep your product costs down so you can continue to provide goods at a price within reach that won’t create an uproar.
And what are some key recession proof goods? Glad you asked…
Here’s the list:
- Consumer Staples – detergent, toothpaste, food & household products
- Camping Gear – tents, coolers, sleeping bags, fishing gear
- Coffee & Tea
- Tupperware & Kitchenware
- Candy, Food, Beverages
- Pet Care Products
- Baby Products
- Sports & Fitness Products
- Home Renovation & Repair Supplies
- Automotive Parts
If you have an e-commerce store or B2B company and you currently sell any of the above products to your customer base you fall in line with being recession proof BUT if you get your products from overseas, you may be in trouble.
Here’s where GoBiz comes in…
We offer quality products in bulk that are recession proof stored right here in the US and at a GREAT wholesale discount so stock up and be prepared for the unknown.
Here are our recession proof product options for you to choose from:
Personal Protection Products – PPE Sale | GoBiz USA
Sporting Goods Products – Sporting Goods | GoBiz USA
Home & Kitchen Products – Home & Kitchen Sale | GoBiz USA
Health & Beauty Products – Health & Beauty | GoBiz USA
Lawn & Gardening Products – Lawn & Garden | GoBiz USA
With so much uncertainty in the air, you can be CERTAIN that GoBiz will get you the products that you need within 2-5 business days so that you can fulfill all your customer orders with complete satisfaction guaranteed.
We can even store your current pallet orders in our US based warehouses so that you can rest assured that your products are readily available for your clients that you do business with here in the states.
Not only that, but when you become a GoBiz Business Member you get 4% cash back on your GoBiz bulk orders, Net 30 Terms, and access to an optimized executive-level system that will track all your sales, shipments, and even drop-ship products straight to your customers.
GoBiz is the enhanced all-in-one marketplace and operation system built to simplify your business process and MORE!
You can now become a GoBiz Business Member at NO COST, so sign up today and start using all of your rewards.
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An author of Namaste UI, published several articles focused on blogging, business, web design & development, e-commerce, finance, health, lifestyle, marketing, social media, SEO, travel.
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