【Incense as An Economic Barometer】¶
A specialty gift store owner in New York City reported an interesting observation that “incense sales have always been a great barometer of the economy in my store. As the economy tanks, candle sales drop and incense sales pick up.”
Like the stock market, incense can be an economic barometer? incense sales and candle sales go in opposite directions just like interest rate and bond price?
This gets me thinking. Why?
People use candles to decorate their homes and to create a romantic atmosphere. So candles are considered luxury goods. When the economy is bad, demand for the luxury goods goes down, hence candle sales go down.
On the other hand, incense is mostly for religious rituals, meditation, personal reflection, relaxation, and aromatherapy. When the economy is bad, people endure more hardship and more stress. Burning incense can help relax the body, calm the mind, and soothe the soul. It is also inexpensive. During hard times, people tend to work out more, such as running, practicing yoga. People also tend to be more spiritual and look inward for peace and strength. All these lead to more use of incense.
