Recession/credit crunch

Hey Guys

I would like to know how the current worldwide financial crisis has affected the IM industry? In a strange way as people need to find some extra cash has the demand for IM products increased?

I'm based in the UK so any freelance work that I've needed has become more expensive with the pound falling against the US dollar but in the long term when the product is launched it will be to my benefit (provided I make some sales!).

I would interested to know if the recession has affected sales?

Are there any strategies to combat the recession when producing and launching new products? For instance, as people have less cash should you reduce your purchase price?

Appreciate any comments. Cheers.

Alan

So far I have seen good and bad things for the IM industry.....

Good: A lot of people are looking for ways to make money now.....thus buying more IM products.

Bad: Talking to a few of my friends who have huge monthly membership sites... many of them are seeing 50% and higher decline rates on re-bills. People are maxing out credit cards or losing them.

I would agree. I personally have been busier than ever since the beginning of January, and it doesn't look like it's going to slow down anytimes soon.

Cheers,
Trevas

For clarification - I meant I would agree with Joel's first point.

Another thought - new niches that may previously have been less popular, or focused more on less expensive products are now becoming more popular because of the current state of the economy.

Along with an increase in popularity of money-making packages, I have been writing more copy pages and ebooks on topics related to debt reduction, stopping foreclosure, etc. Some of them are being sold as high-end packages in the $100+ range and are doing quite well.

A year ago - these same types of products tended to focus on less expensive products. Someone in debt wasn't likely to have a lot of money to put out for the products, now it is becoming a problem for more people, hence the increase in popularity.

Cheers,
Trevas