Perhaps. While this is purely anecdotal, I’ve seen all of the friends we knew as “die-hard, Disney brand advocates” turning away. A few are skipping some years most aren’t going back at all.
We are 13 years out from a stock market recession…which hasn’t happened in 50 years and counting…
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lol, it hasn't fooled me at all Sir. I'm the gal that is constantly reminding people that Disney is not their favorite uncle. I'm the one that constantly reminds folks that Walt is dead and that the company is just that, a company, I'm the one constantly reminding folks that this is not 1980.
which is pretty normal. so the question becomes how many of those saying "enough is enough" are going to be replaced? Do folks really think that because we stop going all of a sudden the parks are going to tank??
Perhaps a little ironically, if there's a recession then the only people likely to have, and spend, excess cash on a vacation to Disney are the people they're already courting... upper middle class folk with a lot of money. The people that won't go are those who will be struggling financially... those who scrimp and save for a vacation (and/or are already tapping out their cards/LOC), i.e. the ones Disney is already pricing out of coming in the first place.
I know that those with little cash are low hanging fruit, but my experience of people with money is that they lose interest fast. They can afford to do anything, they do not need a 5 foot mouse when they whole world is open to them. Most of us at this point are Covid prevented from other parts of the world and frankly there aren't to many states that are worth anything except the wish to drive through quickly, so how long will Disney be in fashion before something new becomes the thing to do if you want to show your affluence?
I would offer the possibility that income/wealth doesn't stratify people into levels of interest in Disney, or other things for that matter. Further, I'd suggest that affluent people are less in need of showing their affluence than perhaps those on the cusp of it wanting to show neighbors/friends/the interwebs that they're well off enough to afford Disney. You might find the book "The Millionaire Next Door" interesting.
which is pretty normal. so the question becomes how many of those saying "enough is enough" are going to be replaced? Do folks really think that because we stop going all of a sudden the parks are going to tank??
On top of that and this is also anecdotal, I wonder the spending pattern of those who go often vs. those who go once or twice. I remember my first few trips, we spent way more mainly because we were high on pixie dust. We brought the mickey ears, we did the character breakfast's, brought the tee shirts. Now?? totally different.
Folks tend to internalize Macroeconomics, but fail to look at the other side of the replacement goods argument where there are replacement customers.
“Fool” is relative in this case.
True, so what happened to Disney during the 08 recession? Lol, I know that past performance is no indication of future but it is interesting to look at.
) Google search, 2009 parks took a 19% hit on profit and an overall 9% hit on revenue (from NYT) They laid off 1900 folks. 2010 things were on the plus side. I don’t see a market correction being as bad as 2008.
WDW cut ~ 1,400 positions in 2009 due to park attendance and ad revenue decreasing for ABC and ESPN.
We must have been typing at the same time but kinda the reason why I don't think any thing significant is going to happen when the next recession roles around.
In Bobs greatest move…they increased prices and provided steep - but temporary - discounts to lure people…True, so what happened to Disney during the 08 recession? Lol, I know that past performance is no indication of future but it is interesting to look at.
How did the parks weather the last recession??
So after a really quick (I got sidetracked by an ad for uggs on sale
Not betting on any significant change in the near future Sir.
…but admittedly…you’re not really a student of Disney history prior to this drunken, Bezos driven stock market largesse period…correct?
Much different starting point now. Hard to slash things 70%…they did the 30/40 thing last time
100% Correct, I try to admit that every so often. I'm definitely the new kid on the block AND I follow along sparingly. To make matters worse (or better depending how you look at it) I didn't go to the parks during these so called magical years
