Winners During Economic Woes: Netflix and Telecoms
Canadian paper, The Globe and Mail, published a report detailing what consumers would be cutting during our currently global economic troubles.
The survey was conducted by the Solutions Research Group in Canada that consisted of both American and Canadian consumers. The result of the survey should not be a surprise to anyone. Wireless services stand as one of the last things to go.
For the average mobile user now, their mobile devices is their link to the world. It's how people stay in touch these days, conduct business, and generally move a large portion of their lives online. Banking, trading stocks, entertainment, socializing, and keeping up with what's gong on around them. It is basically their own world in the palm of their hand.
So, what are consumers willing to give up?
- Big-ticket events (eg. concerts, sports)
- DVD buying
- Magazine subscription renewals/newsstand
- Cable/satellite TV extras
- Video game buying
- Home phone
- Mobile/wireless phone
- DVD Rentals
- Home Internet
So, who wins? Well like the title says, Netflix and telecom/wireless providers. DVD rental at number 2 while telecoms occupying home phone, wireless, and DSL as those least likely to be sacrficed. What have I given up from the list? Let's go with what I've kept: DSL, wireless srvice, home service, Sat TV, occasional DVD rental from Redbox (just this week).
I'll be giving up Sat TV when my contract is up in January. I get my TV fixes from Hulu and if I can't find it, iTunes. I gave up Netflix a month ago (nothing good to watch).
I'll go to movies with friends if there's anything worth watching. You know what's out there so you also know there are not a lot of movies good out there. So of the 10, I've kept or will be keeping three of services on the list.
So, what have you given up? How about if you had to choose between DSL and your mobile services? Hmm...
Note: I do go to sporting events. Lakers. Kings. Sometimes Ducks. But I only go when I get invited by a friend at the LA Times or tix from work.