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4 Industries that Are Drowning Quickly

4 Industries that Are Drowning Quickly

Photo courtesy of Michael (mx5tx), via Creative Commons

Hannah Waters | Geezeo.com

It goes without saying that everyone is struggling with today’s current economic situation. You or someone you know has definitely been affected by how things have changed. However, when it comes down to it, some industries are struggling more than others. Although some industries are struggling, there may be some benefit in it for you.

1. Retail

Retailers are losing money left and right. Even those discount retailers that are faring better than others are still down in sales compared to this time last year. If retailers don’t find a way to keep the customer coming back, they will lose them altogether and in turn go out of business which we have seen happen to many just this year (i.e. Linens and Things and Circuit City). When times are tough it is beneficial for you (if you have the money) to take advantage of all the sales and discounts that are going on at all retailers.

2. Car Sales

Now is definitely the time to buy. Dealerships are practically giving cars away nowadays and in some states you can even get a tax break for purchasing a car in 2009. Car sales were down considerably last year and dealerships have a lot of excess inventory since sales did not go as they would have expected (or have liked). If you have been putting off buying a car because you were short on money, now might be the time. Instead of putting a lot of money towards fixing up your old car (just to have it break again), put money towards a newer car and possibly save in the long run.

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