The biggest sign of traditional funeral industry decline, is the decline in Casket Sales, and the decline in the amount of the Casket Sale.
The Wall Street Journal is reporting that Casket sales are in decline, and the amount of money people are spending on Caskets are reduced dramatically.
The World’s largest Casket Company Batesville Casket Company and it’s parent Hildebrand, Inc are moving outside the casket sale to get income. Hildebrand has purchased K-Tron a non funeral industrial company.
In 2009, Casket sales dropped by 5 million caskets as reported by the Wall Street Journal. This is different than the 80,000 reported by the Cincinati Business Journal
Snippet From the Wall Street Journal.
We saw a decline in the overall price of our caskets sold,” says CEO Joe Bartolacci. He’s now making acquisitions in areas of the funeral business he considers more promising, such as cemetery markers.
Other casket makers are making lower-priced models. Jonathan Field, president of Jonathan Field Collection, which specializes in military caskets, started noticing that his customers were ordering more of his lower-priced caskets in December 2008 as the downturn deepened. In March, he will start selling a casket for $1,200, less than half the price of his main model, which sells for $2,850. The cheaper version will have fewer embellishments.
But Laurie D’Onofrio, a 50-year-old nurse from Staten Island, N.Y., would still prefer to be cremated. In her family, most people choose burial, but she thinks traditional burials are needlessly expensive—and a little icky. “I don’t like the idea of rotting away,” she says. “Ashes to ashes, dust to dust.”
This is the first time that Batesville Casket has been revealed as considering
getting into Cemetery Markers.
Batesvile Casket had it’s worse year in recent memory in 2009. Batesville An increase in sales over last yaer has not happened yet in 2010. Even if Sales go up over last year it it ill not indicate a turn around.
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