Wednesday, December 17, 2008

Effects Of The Economic Downturn

Down economy means more business for some

KUSA - While business is down in some areas in Colorado, it is up in others.

'At liquor stores, consumers facing tough economic times are not passing up on all the good times. Alcohol sales are up 20 percent in Colorado over the past year, but there are fewer wine snobs in the aisles.

"Instead of a $25 bottle of wine, two bottles for $10 each," said Ron Vaughn with Argonaut Wine & Liquor.

It is the same with beer. Nationally, sales of some pricier brews are down, while brands like Keystone and Miller are seeing sales surge.

Grocery store shoppers are also buying more soup. Campbell sells a meal in a can for as little as 60 cents and the company's sales were up 12 percent last quarter.

On its Web site, Malt-O-Meal says it's having a hard time keeping up with demand. Its hot cereal costs less than other brands.

Cashiers are also ringing up more SPAM. Sales of the cheap canned ham are up by double digits and the company had to increase production.

It might be the cheap food or just the stress that comes with a bad economy, but for some reason laxatives sell well in recessions. This year, sales are up by 7 percent.

Discount stores like Wal-Mart and thrift stores are also performing well in this economy. So are bankruptcy lawyers.'

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