Even in the struggling economy, people still find ways to treat themselves to simple luxuries in life. If the sheer power of the Starbucks and Apple brands weren’t evidence enough, both brands were recently upgraded by Moody’s ratings service—meaning that their current and future situation is looking good.
Buying a coffee from Starbucks, whether straight black drip or frothy Frappuccino, is one of the easiest and cheapest ways to treat oneself to a little bit of luxury. These items are easy to buy in part because they are incredibly convenient—dotting big cities to the point that it’s hard not to see one at any given time—and partly because a few dollars is easy not to feel guilty about.
Technology is another area that people tend to splurge on even if their budgets are a little tight. There are now more people in the world with cell phones than people who have access to toilets, according to a U.N. study. The explosion of individual handheld devices like iPhones, iPods, smartphones, tablets, and more has generated a ton of revenue for smart businesses in the technology industry—like Apple.
Entertainment is also immensely accessible and inexpensive. Xbox, Redbox, Netflix, Amazon Instant, and iTunes all make it incredibly easy to stay up-to-date with favorite movies, music and more. Users can buy single episodes of TV shows or individual songs they like with the click of a button. They can rent new movies for just over a dollar a night. Like coffee and technology, it’s something consumers do quite often—and that’s why the business is booming.