Croaking Caskets: Consumer’s Reduce Their Spend to The Bitter End

March 5, 2010
Advertisement

imageBenjamin Franklin — who would most certainly be a blogger if he were alive today — is famous for having popularized the phrase “In this world nothing can be said to be certain, except death and taxes.” And as a logical extension, I’ve always been struck by how the business of death has appeared to not only be resistant to market fluctuation, but also likely to continuously expand as population increases. Enter the biggest economic downturn in 70 years and consumers have now begun to focus their new found frugality on the casket industry.

Back in Ben Franklin’s day, coffin making (the six sided version) was a welcome and steady sideline for local carpenters and cabinet makers in the small towns and villages where most people lived. Now no longer a cottage industry, casket making today is big business. And while not a death knell just yet, theWSJ chronicles the impact of doing death on the cheap and states that “some casket makers worry their business is hitting a dead end”.

Quoting the example of Marc Kruskol, a 52-year-old publicist in Palmdale, CA, The Journal says “He doesn’t want a casket burial regardless of how strong the economy is … When he dies, he wants to donate his organs and be cremated. Traditional burials are a waste of cash, he says. ‘It’s like taking a bag full of money and burying it’.” Mr. Kruskol appears to epitomize the nail in the industry’s … you get the idea — sorry but the puns are too irresistible.

Advertisement

With “the average cost of a traditional burial [at] $7,200, compared with $1,400 for the crematory fee, some form of memorial service and an inexpensive urn”, according to the article, it’s little surprise that “the pace of cremations in North America has typically grown at about one percentage point a year”. But as consumers increasingly decide to recycle their body parts and send their residual earthly vessels up in smoke, casket manufacturers are not lying down. With revenue down nearly 4%, casket makers are offering super cheap boxes for the daisy pushers, urns for ashes and also diversifying by acquiring manufacturers of factory equipment.

So while consumers are “earning a penny” right down to their final spend, the casket industry is heeding the market and another bit of Ben’s advice: “He that blows the coals in quarrels that he has nothing to do with, has no right to complain if the sparks fly in his face.”

Source: SpendMatters.com

CDFuneralNews

CDFuneralNews

ConnectingDirectors.com is the leading online daily publication for funeral professionals with a reader base of over 45,000 of the most elite and forward-thinking professionals in the profession. With ConnectingDirectors.com we have created a global community through an online platform allowing funeral professionals to Stay Current. Stay Informed and Stay Elite.
CDFuneralNews
Advertisement

You may be interested

IS FACEBOOK NOW PAY-TO-PLAY? | DISRUPTu! 038
DISRUPTu
38 views
DISRUPTu
38 views

IS FACEBOOK NOW PAY-TO-PLAY? | DISRUPTu! 038

CDFuneralNews - February 5, 2018

Are you ready to fight...!? Ready to FIGHT those recent Facebook Newsfeed changes?! You're in luck with this week's brand…

Homesteaders Recognizes Account Executives for Outstanding Achievement
Funeral Industry Press Releases
79 views
Funeral Industry Press Releases
79 views

Homesteaders Recognizes Account Executives for Outstanding Achievement

CDFuneralNews - February 5, 2018

West Des Moines, Iowa — Homesteaders Life Company, a national leader in pre-need funeral funding, held its national sales meeting and recognition…

We are Building Something Exciting for You… and We Need Your Help!
News
189 views
News
189 views

We are Building Something Exciting for You… and We Need Your Help!

Justin Crowe - January 31, 2018

We want to make your deathcare job easier. Tell us what you want in this 2-minute survey and get entered to win $100! The Connecting Directors and Disrupt Media teams are excited to be planning some new free funeral home marketing content and products for you in 2018 and we want to know what you need most! We want to know your biggest business wins of 2017, the tasks in your day that you hate, and what you feel is holding you back!

Comments