Crisis always creates a plethora of new opportunities for people. Asda, “Britain’s best value grocer” will add 7,000 more staff to work in 14 new stores. Subway, the cheap sandwich chain of America, clearly wants to exploit the austerity of Britain and said it may invest £60m to open 600 stores. Sky last week announced plans to hire 1,000 new workers to install new satellite dishes to entertain people spending more time at home.

This spend-thrift culture has revived the business at Pontin’s too – the holiday camp operator which opened his first camp in 1946 and had close to 30 sites in UK, during their heydays in 1970s. But Britain became more affluent, package holidays abroad grew more popular and just six camps remain with the company now.

Not anymore. Ocean Parcs, which bought the business for £46m last year, now plans to invest £50m upgrading the camps, refurbishing chalets, which are up to 40 years old, improving menus and entertainment (Bananarama and Toyah Wilcox are on the bill this summer). But Pontin’s main appeal remains its rock bottom prices. The company is offering three-or-four night self-catering breaks from £20 per person.

But will these changes in spending habits and trends fade, once wealthier times return? Maybe not all of them. As Geoffrey Wood, an Economics Professor from Cass Business School believes, “….if they find that the only thing inferior about the cheaper product is the packaging then they might stay with it.”

Via: GuardianUK