10 Best Products or Services to Sell During a Recession

10 best products or services to sell during a recession will help you know what profitable businesses to start, and also may help you realize what products and services you consider necessary.

We compiled many articles about recession proof products and services (from US News, An Acclaimed Affiliate, Profitable Venture, and Investopedia) and used Maslow’s Hierarchy of Needs to rank their lists.

If you only faintly remember something about the Hierarchy of Needs from Psychology class, we’ll happily refresh your memory. The Hierarchy of Needs is a pyramid (much like the food pyramid). The most important, or most basic needs of human existence are listed at the bottom, leading up to the least important or least basic needs that can be found at the top.

Category one at the very bottom, Physiological, includes breathing, food, water, sex, sleep, and excretion. Basic survival needs. (If you think coffee should also be included in category one, more on that later.) Category two is Safety, and it consists of security, employment, resources, morality, family, health, and property.

Love and Belonging is category three which consists of family, friends, and relationships. Category four is Esteem and covers self-esteem, confidence, achievement, respect of others and respect by others. Lastly, category five, Self-Actualization, includes creativity, spontaneity, problem-solving, lack of prejudice and acceptance of facts.

It makes sense that the lower a product or service falls on this chart, the more successful its business is likely to be, especially during a recession. This is why we chose this as a ranking system.

However, though everyone’s needs generally abide by this pyramid, priorities can differ from person to person. For example, say Ally loves to ski. If Ally is going through a rough time financially because she is paying for her son’s college, she might splurge on a family vacation to Colorado to get her mind off her troubles.

Though vacation usually falls into the fifth Self-Actualization category, it’s bumped lower on the pyramid for Ally (even though she may end up bankrupt because of it). Education (or college) typically falls into the second Safety category, but now it’s pushed up and her son may have to drop out of college. Nice going, Ally. Hope you had a fun ski trip.

All that is to say that this list generally tells us what people consider most important to spend their money on, even in a hard financial time. For more on this topic, see 9 Best Selling Products During the Great Depression.

Since we ranked many items, those that scored a 2 and a 1 are the only ones that made this list. But that just means that society really needs these things.

Here are the best products or services to sell during a recession. We hope you enjoy!

 

10. Technology “Needs”

Hierarchy scale: 2- Safety

This may not have been listed on the original 1943 hierarchy of needs chart, but these days it’s absolutely necessary. It includes information technology, computers, smartphones, internet and, as a result, inbound marketing. Some people might consider their Netflix subscription or their TV and cable absolutely necessity as well.

 

9. Education & Job Services

Hierarchy scale: 2- Safety

Since education usually equals job, both are a must. By job services, we mean any job search or resume preparation services. And by education, we mean college, tutoring and sometimes even daycare. Anything that leads up to getting and staying gainfully employed. And now, let’s see what else we have in our list of best products or services to sell during a recession.

 

8. Healthcare Services

Hierarchy scale: 2- Safety

Everyone’s always going to get sick, and this goes for animals too. If you work in the healthcare industry, you’re probably set for life.

 

7. Charities & Churches

Hierarchy scale: 2- Safety

People get more generous when times are hard. They also feel a need for help from a higher power, which leads to an increase in church going. Did you know that in Denmark, churches are primarily only used for events? That’s because most all of their basic needs are met (by the government), so there’s no need to look to a religion for consolation. Talk about being in it for the benefits.

 

6. Vices

Hierarchy scale: 2- Safety

Liquor, cigarettes, drugs, gambling, you know the lot. It’s contrary to the seventh on our list of best products or services to sell during a recession, but it’s true nonetheless. People who are hurting often seek an escape or distraction, which is exactly what these industries offer.

 

5. Apparel Products

Hierarchy scale: 2- Safety

Clothing is a basic need, and though some feeling the brunt of the recession may not impulse buy as much as they used to, they’ll somehow always find a need for that cute peplum shirt everyone else is wearing. Especially the women, much to the chagrin of destitute husbands everywhere.

 

4. Contraceptive Products

Hierarchy scale: 1- Physiological

Sex is number one on the basic needs chart, and I don’t know anyone who would deny it simply because they can’t afford birth control. Plus, contraceptives that rank 4th in our list of best products or services to sell during a recession are a money saver too. No one likes those child support bills. So if you’re not financially prepared for it, a child can send your bank account plunging. Although don’t get us wrong, they can be wonderful if you’re in the proper financial situation.

 

3. Funeral Services & Baby Products

Hierarchy scale: 1- Physiological

On the other hand, this doesn’t mean that everyone will completely put a halt to having any children. No matter the economy, babies will always be born. And on a more morbid note, people will always die and need funerals. Especially because suicide rates go up during recession times. And now, let’s see the top two entries in our list of best products or services to sell during a recession.

 

2. Waste Collection, Water & Sewage Services

Hierarchy scale: 1- Physiological

On a more disgusting note, people will always produce waste, of all forms. And even though you may not be just dying to go start a waste collection business as soon as you get your next paycheck, sometimes you just have to make those sacrifices.

 

1. Food & Drink Products

Hierarchy scale: 1- Physiological

You’re not too bright if you didn’t guess this would make it first on the list. But recessions usually mean more business for grocery stores and less for restaurants. Except for coffee shops and anywhere that sells an energy drink (only slightly less sinful vices than the ones listed in number 6). Organic, gluten or GMO-free food industries also boom and contrarily, food processing businesses. And bulk grocery stores like Sam’s Club and Costco? They pretty much have it made no matter the economy.

And there you have it! Everything the world really needs to buy in one article, the 10 best products or services to sell during a recession.