As we begin the New Year, it is easy to forget that lean times bring unique opportunities for businesses seeking to strengthen their long-term position. Consider the following iconic products that were launched during prior economic slumps.

Fortune Magazine – The publication was launched in 1930, less than a year after the stock market crash. Fortune became popular as the public’s interest in business grew and the rise and fall of wealthy capitalists was of interest to the common man.  Fortune had what at that time was a large cover price of $1 however that did not stop its popularity.

Diet Coke – We have all heard of Diet Coke!  It was introduced in 1982, and turned the beverage industry upside down.  Today considered the number one diet beverage in the world, this product was launched in the middle of the troubled economy during the 1980s.

iPod – Who has not heard of an iPod?  The answer is no one.  Apple released the iPod just 2 months after the Sept. 11th attacks and the economic downturn that proceeded. Once again like the Fortune magazine from the Great Depression, the iPod was considered an expensive luxury.  Sales have obviously taken off as oven 100 million iPods have been sold.

Snuggie – And last but certainly not least how about the Snuggie, that oversized fleece blanket with sleeves.  This product was launched during the global recession in 2008.  Now it is in Grocery Stores, Malls, and Magazines everywhere.  This “As Seen On TV” hit has become part of our pop culture having sold over 4 million

Economic downturns create a great opportunity for businesses looking to gain market share and come out ahead. Invest in your business’s future growth - superior products will always be in demand.