It really depends on which niche you are in. Yes, it affects niches like high end luxury products or travel. Who would like to spend on luxury items when they can hardly afford Macburgers. People will only buy essential goods during recessions. I remember the story that even during world war there were ppl raking in the money by selling arms and ammunation related stuff. Identify the niche properly thats the key.
As Godmode said, it depends on your niche. If your product has elastic demand, you'd obviously see your sales fall.
Hmm because I've just started promoting eBooks as of late, but I guess it really depends on the topic of the book.
Yes. I am seeing some clients reducing their Internet advertising budgets, reducing Adwords and other PPC spending, and trimming their staff. While the issues are related to the specific niche, a long term economic crisis will quickly spread to most niches. At the present time they say safes, home security, and personal protection devices (firearms, tasers, etc.) are doing well.
I cant speak to sales, but my freelance work has really died off. In the past two months there has been a huge influx of people charging super low rates, and less buyers. I am having to scrape by right now.
I would say revenue is down a fraction as a result of the financial instability at the moment but we have been working on getting better exposure on our christmas season based sites so we are hoping that this will stop the slide and start going north again.We are lucky that most of our sites overlap during the year like as gardening goes of the boil the next phase is the christmas one and we really start pushing the diets and excercise sites for the january new years resolutions.
I think it's just the begining of the financial crisis. Maybe the cut for my niche comes a few month later... I hope not!!!
Overall, with very few exceptions, ppl are watching their spending this days, especially on non-essentials for which they'll be shopping around more, especially online. This in turn should mean good news for the online businesses compared with the brick & mortar ones. Also some new customers too. I believe the IM industry should see a sizeable growth on the back of the aggravated job insecurity/loss reality...
The Internet will help boost economic activity for every country. Let's just wait that this so-called credit crunch will wane. Once people realize that it is much better to buy online than spend liters of gasoline to drive to the store, happy days will be here again.
some areas yes, but the majority no. there is a slowdown in purchasing but more consumers have shifted from traditional 'highstreet' buying or catalogue' to now buying online, so it may take a few more months before we see a real knock on effect online. what i have seen a rise in is offer based traffic, seems more people want a bargain!