As the economy slows, a growing number of consumers are trying to find a wider market for their goods and services by offering to barter them.
Local newspapers and Internet sites such as Craigslist are seeing a sharp rise in postings by people willing to swap their used cameras or baby-sitting services for other people’s electric drills or guitar lessons, rather than taking cash.
Some of the ads reflect financial distress, such as one from a suburban San Francisco man who “will paint for groceries.” Many others are from people trying to get rid of things they no longer want or need, or offering services such as lawn care, massages or riding lessons in their own neighborhoods.
Jim Buckmaster, chief executive officer of Craigslist, which is headquartered in San Francisco, said there were more than 120,000 barter posts on the site in April - double the total from a year earlier. He estimated that the number increased in May to more than 140,000.
“In the last down economy, we saw the barter category rise,” Buckmaster said. “It’s especially good for people out of work or having trouble making ends meet because barter is a way to get services or meet a need.”
In addition, he said, small business owners are showing more interest in barter because they can attract new customers and get goods and services they need for themselves. Bigger businesses already have such capability, often exchanging goods and services through established barter exchanges.
Photo by Craigslist.
Consumers Turn To Bartering For Goods, Services
June 9, 2008 by Rich | 2 Comments
In Barter, Economy, Sales
John on June 9th, 2008 at 2:30 pm
This can only be a good thing where people are using more and wasting less…although, it could slow the economy down even more if people are buying like they used to and are instead trading their used stuff.
A cool site I use to trade media stuff with other people is a service called SwitchPlanet :
http://www.SwitchPlanet.com
Check it out…it’s a cool little service that can get very addicting.
cassy on June 24th, 2008 at 3:22 am
Well.. bartering is not new to our ears, before we were born” bartering” is already exists. And i think its a good idea to barter than using money at all.