The economy has brought a downturn in the Funeral Industry across the United States. This is covered in the media almost daily. The average cost of a funeral is has headed towards a bottom, just like the economy.
This trend is good for the consumer, but not for the funeral director. The Financial Magazine Forbes did an article on this. It is the first I have seen in that publication. The Funeral Industry is not “Recession proof” as was stated by the media when the effects of the recession became acute last fall.
Forbes quoted Funeral Director Peter Mahoney of Mahoney Funeral Homes in New York:
“Given the economy today and the way people are watching their dollars and cents, people are more
price conscious,” says Maloney. “Funeral services are not a luxury service.“
In fact funeral services are a must have service just like groceries. Just like groceries if you shop around you often can find the same item for lower cost. The same is true for Funerals.
The Funeral Industry needs to stand up and take notice of the trend to a lower cost funeral. Consumers are brushing up on their negotiating skills and bringing down the average cost of a funeral.
Funeral Industry|Funeral cost blog by Your Funeral Guy.
Pics from Istock photo
Source Forbes article at forbes.com titled:
“Recession-Friendly Rites by
Lauren Streib, posted 03.24.09, 06:55 PM EDT,
The economy takes its toll on the funeral business”