In the time of recession the terms “luxury” and “inferior” are used to describe the goods that consumers are buying. Most people detest being forced into pinching pennies, while others it common practice. Consumer reports often show an incline of inferior goods in time of economic decline. Simply put, “Brand X” gets purchased more than the name brand.
Poor financial situations can depress people. In hard times many turn to the small, inferior-type products to lift the spirits. Some say that financial restriction forces creativity. In a similar regard, selecting cheaper products, or items that are not on the normal shopping list, might cause you to stumble on a better product.
I’ll use shampoo as an example. John Frieda prides itself by providing salon quality products at affordable costs. Then there is the Suave Professionals haircare line. Same claim but even more affordable in many cases. I tried both products as a means to avoid spending extra on the salon options and I was not disappointed. In fact, I liked them better. I have the freedom to save money without feeling deprived. Very important to anyone wanting to be smart, but not sacrifice the small things that make us feel confidant.
Try not to look at the state of the economy as doomed. Focus on the idea that it’s an opportunity to improve lifestyle and try new things. You never know, once you have extra pennies to spend on those luxury items you might not even want them anymore! -pm