According to insurer LV, thieves have found a new target – high end pushchairs. Apparently 913 buggies were stolen last year, up from 738 in 2009. Why? Because buggies are getting increasingly expensive, with an average one now costing £427 and top of the range models at over £1,000. Over the last 3 years, and despite the recession, expenditure on pushchairs has risen by 20%.
There are a couple of things to take from this, I think. The first is a money making opportunity. Pushchairs are something that parents only need for a relatively short time, and the high price has to open up an opportunity for entrepreneurs to buy from one set of parents and sell to the next at a profit.
The second point is a more general one. In most markets, there is an opportunity to uplift the standard and specification of what’s being offered. That’s already happened in the pushchair market, but what about the market or markets you know about. Might an upgraded product be what the market is waiting for? If it is, as the pushchair proves, you can sometimes buck an economic trend.