Disposable income...

[surlycurly]

I was hoping to get some feedback please. I run a small business (part-time on top of my FT job) that sells 'luxury' or unnecessary interior items (up for debate but to simplify and prevent outing I'll go with this). The past two months have been dire. The products haven't changed, nor have the prices, but I'm just not selling anything really. Can I ask what you're spending your spare money on just now? I don't want to give up if this is just a blip caused by holidays/ eternal purchases etc. Please don't pummel me into the ground for the title, or for being nosey - I don't have a spare penny just now because my business isn't doing what it normally does. I'm just hoping to find out if it will come back to me or not. Covid has changed all previous norms and I'm getting more and more bleak as time goes on with little to no sales. I rely on the extra income to keep us afloat. Thank you so much in advance.

I think a lot of people are going out now so spending money on that. Also summer holidays so people will be spending on that

Did you start it before Covid ? Do you have normal peaks and troughs in the year ?

I imagine demand will come back towards Xmas

We’re currently spending money on extensions and renovations, and so until the building work is complete we aren’t buying any interior decor items. The tradesmen are extremely busy - could it be that everyone is currently developing their external rather than internal?

I think people spent a lot on their homes while trapped inside during lockdown but now people are done with being indoors and spending on their homes.

I've been running it for a few years and normally I do really well in June and then a bit quieter in July and aug. But I've seen none of the normal spending at all. I'm normally able to pay for a holiday/ uniforms etc with the extra but it's coming out of savings this year.

I agree re the tradesmen- I've a few jobs that I can't get done for love not money so maybe that's it- bigger out goings. I had hoped that with foreign holidays still not being a realistic option that I'd see more sales!

Of course it would help to know more about what it is that you're selling...

But, at the moment saving for a deposit. And it's the time of year where everyone is going on holiday or having to fork out for holiday clubs/childcare etc so less money generally to spare.

I think a lot of people are tightening their belts this year especially with the uncertainty around covid.
Also holiday prices are through the roof so maybe all their money is going there.

Has your Product fallen out of fashion?
What is it ?

Our extra money is going on damp treatment for the house, days out for the kids and books.

But then again, I always buy books. I’m not one for unnecessary decoration items.

I have a lot of disposable income. I'm buying vvv little because covid certainly brought home that "stuff" or "clutter" does not bring long term happiness. Plus cannot be bothered. Plus others need money more = guilt at spending on luxuries. Plus saving for adult kids whose future looks so uncertain.

I’m spending my disposable income on weekends away, family days out, eating out, etc, basically all of the stuff we haven’t been able to do for a long time. I’m also spending a bit on clothes cause I’m been existing in loungewear for the last 18 months and need actual clothes. Definitely not spending on the house, we did that during lockdown when we couldn’t go out.

Really depends what it is, a lot of people I know are spending money on home improvements currently. My SE tradesman husband has never been busier!

I think everyone has spent the last 18 months in their houses, and many have improved them, hence your sales. However now life is resuming, people are spending money in going out, outfits, grooming etc.

We have spent roughly what we would have done on foreign holidays on upstanding our house, and some purchases have been luxury house items. But this last month I've not really had time to browse for things like that as I'm spending money on days out and meals out.

Let's say it's art or something of that nature. Def a lux item rather than a necessity. Not ultra expensive but still not IKEA kind of pricing for the items.

In some ways it's nice to hear the people saying that they're spending their money on visiting people they love, even if it may well be impacting on my business.

Honestly I’m just not spending
Enjoyed having money left at the end of very month and trying to keep it going

I have been out/seen friends but don’t need “stuff”

I think some people's priorities have changed. I have friends that were shocked at how much they used to spend & now don't want to return to same level of spends.
I myself have decided to save more as life seems a lot more predictable.

Maybe you need to change your product range - I check in on my fave websites and if there’s nothing new I soon stop checking. If you’ve been running it a few years I guess you know all about emailing but maybe you need a new marketing approach.
I’ve just bought a house so I am buying, but big things like sofas and beds. Also, I agree with pp people are out and about - the restaurants and pubs are pretty busy around here with rules being relaxed.

I think spending on experiences will be more of a thing as we have missed out on all of that for a while.

Family member has a crafty business. It went wild during lockdown but you can tell every time restrictions are lifted. People want to be out and about, spending money on activities and enjoying the freedom while they can. They're not thinking about the things in their home because they're not in them while other options are available. Tough it out, it'll pick up again be that due to restrictions coming back in or general autumn/winter vibes.

Are they the kind of things people buy as gifts, or for themselves? Here, money is tighter over the summer (costs of kids' activities, drop in income from unpaid leave for school hols etc). I'm not buying much in the way of stuff unless it will be part of entertaining DC. I'm also outdoors quite a bit, even at home, so not particularly thinking about interiors in the way I might be in the winter I'm afraid.

I'm still buying gifts for birthdays etc. Did you have seasonal dips before?

I'm spending all my disposable cash on school holiday entertainment and spending money for our holiday next month. DC have got big ideas about all the expensive fun things they want to do while I'm off work

Just spending on usual which is occasional drink out, ice creams, gifts for friends, kids activities, clothes.

I agree that other people might be spending less on 'stuff' and more on doing house up, going out.

Maybe look at different product line. I'm intrigued what it is!?

Im trying to spend less on stuff. Becauss Ive got too much already. Still buying books though but getting rid of some to charity at the same time. What are you selling?

As we can’t get abroad this year we have had a summerhouse and landscaping done, making the most of the garden.
Can you say what the item is and we
could give a better answer?

Thanks for the feedback. It's not quite crafty stuff but more expensive individual pieces. Normally I do have peaks and troughs but never Norway thus much of a drought. It's quite disheartening.