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The American Funeral Industry profits have been cut in half over the last 20 years, this is a steep log term industry decline.
We are 10 years into the 21st Century and many funeral homes are just moving into effective websites and social media strategies. The rise of cremation and the current economic enviroment is accelerating the decline.
The decline in the funeral industry has been coming for quite a while and it has provided a great opportunity for folks to save on funeral cost.
The Federated Funeral Directors of America, an accounting firm for independently owned funeral homes, found that in the past 20 years, its clients’ profit margins have been cut nearly in half. Yet the $11 billion funeral industry, dominated by family owned & operated funeral homes, commanding 89% of the death care market, has been slow to make the necessary adjustments in order to meet consumer demand and the growing popularity of non-traditional services. Not at all surprising that it has almost become a cliche that “the funeral industry is the last industry to be dragged kicking and screaming into the 21st century.”
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