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Author Topic: Are You Worried About the Coming Recession?  (Read 4586 times)

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« on: October 20, 2014, 06:28 »
0
Economists are predicting a new recession, comparable to 2008 within the next 2 years. China, Russia, Europe and the United States are all showing economies slowing down....Of course, Economists are a bit like weather forecasters, anticipated stormy weather doesn't always materialize when predicted. :)

I'd be curious to hear from long time contributors who had to deal with the 2008 recession. ie. Was there a significant effect on your sales?


PaulieWalnuts

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« Reply #1 on: October 20, 2014, 07:53 »
+4
Been at this since 2007. From what I remember I was expecting a big drop in sales and it never happened. Maybe I was too new or maybe a lot of micro buyers stopped buying but were replaced by macro buyers who were forced to find cheaper options.

Hard to say this time around. A lot of buyers would probably stop buying again but they could be replaced by the people who feel more marketing is needed during a downturn. I'd predict an overall slowdown in sales but not a big drop.

I've diversified a lot since then so I'm hoping that will balance sales out.


« Reply #2 on: October 20, 2014, 08:04 »
+2
It made no difference to me, except exchange rates were different (much better actually).

Beppe Grillo

« Reply #3 on: October 20, 2014, 08:40 »
+4
With the recession customers could prefer stock photos sites to expensive studios

« Reply #4 on: October 20, 2014, 08:56 »
+2
Agree with all the above. While I worried my sales for the most part retained a fairly steady revenue stream, with ups and downs that are inherent in this business.

stocked

« Reply #5 on: October 20, 2014, 09:53 »
+15
Microstock has it's own recession and that is oversupply and falling commissions anything outside this box doesn't have any significant influence.

Uncle Pete

« Reply #6 on: October 20, 2014, 11:43 »
+1
No

And your assumption is that economists are right and know what's coming?

Ed

« Reply #7 on: October 20, 2014, 13:00 »
0
I'm not worried about it but....for what it's worth...the effect of the recession pushed more people into trying to sell stock images (which helped put us where we are today).

The reason?  Because just about every web blog out there started publishing posts about how you too can make a few extra dollars by selling photos....

http://frugalbugle.weebly.com/blog/make-money-selling-photos

http://www.my-frugal-money.com/Sell_Stock_Photos_Online.html

http://www.lifehack.org/articles/money/5-sites-where-you-can-sell-your-photos.html

etc.,etc., etc.

So yeah, if people are pinched for cash, they are going to do what these "frugal" sites recommend...and they're going to try to submit their photos for cash.

« Reply #8 on: October 20, 2014, 13:37 »
+4
My best money making years were the recession years of 2009-2011.  Since we have supposedly been out of recession is when my sales dropped.

« Reply #9 on: October 20, 2014, 13:45 »
+5
Most economists are about as useful as a chocolate toaster - and let us not forget 99.9% of these charlatans were caught with their pants down during the last recession.

Really, such events are so far out of my control I can only make sure I maintain a firm grip on my own income and expenditure and keep shaking things up in my revenue streams.


ruxpriencdiam

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« Reply #10 on: October 20, 2014, 17:52 »
0
Yep and if someone was to know there was a coming recession they could make a killing so no need to worry about microstock, that would be the least of your worries with all the rest going on as the cash cows were being herded into the bank vaults.

No

And your assumption is that economists are right and know what's coming?

« Reply #11 on: October 20, 2014, 18:12 »
+4
As the saying goes, economists have predicted five of the last three recessions. That being said, I think the odds are that we will have a recession.

On the topic: I am an illustrator in microstock since 2005. I agree with everyone who said that recession did not adversely affect microstock. Part of the reason may have been that in the recession graphics designers and ad departments looked for ways to cut costs and discovered microstock. Since that can't happen twice, the next recession may not be so kind to us.

Dook

« Reply #12 on: October 21, 2014, 09:52 »
+4
As the saying goes, economists have predicted five of the last three recessions. That being said, I think the odds are that we will have a recession.

On the topic: I am an illustrator in microstock since 2005. I agree with everyone who said that recession did not adversely affect microstock. Part of the reason may have been that in the recession graphics designers and ad departments looked for ways to cut costs and discovered microstock. Since that can't happen twice, the next recession may not be so kind to us.
Agree. But, they can discover microstock twice. This time even cheaper one  - Dollar photo club, subscription plan for as low as 5 pictures, etc  :(

« Reply #13 on: October 21, 2014, 10:03 »
+4
Agree. But, they can discover microstock twice. This time even cheaper one  - Dollar photo club, subscription plan for as low as 5 pictures, etc  :(

Agree. People don't seem to even want to spend $10-$15 on a stock photo, whereas before micro they had to pay $100-$200 a photo. I also think another recession will encourage even more stealing and people using free images.

Lightrecorder

« Reply #14 on: October 21, 2014, 10:06 »
+4
We havent even recovered from the crash in 2008, a recession now will be a disaster

Uncle Pete

« Reply #15 on: October 21, 2014, 10:48 »
0
That's my view also. Every year around Christmas, we hear how things are better, and they interview shoppers who are charging through the holidays based on, predictions that things are getting better. Talk about cons! And the people just spent all kinds of money, based on the promise of good times and better economics.

Watch TV on Black Friday and see how they interview people who have once again been led to believe, things will be better soon, so spend and buy more, Fools! We have been in a slow recovery since 2008.

Since 1928, nine of 14 recessions have begun in the year following a presidential election, far more than then the three that should have occurred randomly.

In other words, 2017 is more likely, which if you are a doom and gloom type, is just around the corner. Oh woe is me. The sky is falling. If you are more optimistic, it's two years in the future, make the best of what we have now.


We havent even recovered from the crash in 2008, a recession now will be a disaster

Uncle Pete

« Reply #16 on: October 21, 2014, 10:49 »
0



quote is not edit. Sorry!
« Last Edit: October 21, 2014, 10:51 by Uncle Pete »


 

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