Spam Thrives Despite Our Slowing Economy… Again
By Saxon Baird - Jul 2nd, 2008 at 6:17 pm
A recent article on adage.com (registration required) has pointed out the recent double-digit growth in Spam sales over the past few quarters. In a time when almost every aspect of the economy is doing poorly, the Spam sector seems impervious to all the tumult.
Matthew Creamer reports:
It’s a trend explained by the concept of “inferior goods,” an economics term that less describes the makeup of a product than its place in consumer-demand theory. They’re basically goods or services for which demand increases as income decreases and vice versa. They’re staples that are somewhat dispensable in good times but more desirable in bad ones.
[…]
In the current economic climate, the media have given a fair amount of attention to this concept, as part of a tsunami of coverage of how the American consumer is cutting back to deal with rising food and gas prices and the looming threat of an economic apocalypse. Following parent company Hormel’s second-quarter-earnings release, which announced a 14% increase in profit, the Associated Press attributed Spam’s success to downtrodden simple folk and even quoted a few wretches who seem to have turned to the pork product as a last ditch before gobbling up their own hair clippings.
The strange and questionably meaty substance seems to be protein source of choice in economic slowdowns. First created in 1937 with the United States still struggling to get out of the Great Depression, Spam served as the perfect cheap alternative food to distribute throughout the south pacific to U.S. military
My question: Why is Spam even still available? Do you know anyone who actually eats it? Somebody must like it, and now its sales are increasing. Strange. And gross. I’ll stick to discount shopping and cutting out coupons before the money crunch causes me to crack a can of Spam for lunchtime in the office.
Have you heard of a little state called Hawai’i? Spam is part of the local cuisine. See here: http://starbulletin.com/2008/07/02/features/story03.html
Effete liberals ….
July 2nd, 2008 at 10:23 pmCheap meat. I wonder if egg sales are going up as well…
I don’t really understand the lash-out against Spam. It’s not the greatest thing in the world, but when cooked properly it’s quite tasty — at least in the same taste realm as a hot dog. Sure it looks disgusting out of the can, but with a frying pan and some rice one make a decent meal.
July 2nd, 2008 at 11:29 pmagreeing with geoffrey. i grew up on that shit, as horrifying as it sounds. i kinda avoid it nowadays though - it’s pretty terrible healthwise.
July 3rd, 2008 at 12:07 amJust check your gmail junkbox for some tasty spam recipes
July 3rd, 2008 at 12:36 amI’m betting Spam is not thriving despite our slowing economy, but because of it. With soaring food prices, it’s probably all the meat many people can afford, and that of course is why it’s still selling.
July 3rd, 2008 at 5:15 amLisha: co-sign….spam and eggs happened to be a breakfast staple when I was growing up….trust me there’s worse canned meat products….
Vienna sausages come to mind
or perhaps deviled ham spread
in any case, imagine that there are people who don’t even have the above items to eat….just a thought.
July 3rd, 2008 at 9:04 amthis is sort of like how McDonald’s and Walmart are doing so well during the slumping economy as well.
July 3rd, 2008 at 9:18 amis spam vegetarian?
July 3rd, 2008 at 9:36 amI agree… When cooked properly it’s pretty delicious. Not that its nutritious by any means, but don’t knock it til you’ve tried Spam Musubi.
July 3rd, 2008 at 10:54 amwhoa. have you checked out spam’s website? surreal.
http://www.spam.com
July 3rd, 2008 at 2:58 pm