Meet Needs of Divorce Market

Want to make some fast money off all those folks who are getting divorced. Sound too much like preying on others’ misery? Well, done the wrong way, yes. But think instead about satisfying shoppers who can use what you provide as they set up their own housekeeping. Consider Debenhams, with its 153 department stores located across the UK and Ireland. They’ve started off January 2010 by announcing a divorce gift registry.
     What products and services could you profitably provide to the newly divorced? Before implementation, consider this, though:

• In your market research, use the right statistics. You’re interested in the percentage of your target market who are newly divorced or have filed for divorce. That’s not the same as the percentage of marriages that end in divorce. Countries with the highest percentage of the population who get divorced include the U.S. and UK. But Brazil, Italy, and Mexico have very low rates. And the rates differ significantly within a country.
• If you start a gift registry, include some high-end items. Friends of the divorced will want to soothe the suffering. Even the ex-mate might want to splurge on a present. Researchers at Oregon State University, University of Portland, and Old Dominion University found that a spouse who feels responsible for a breakup is open to “compensatory giving.”
• If you advertise specifically to a divorce-ready market, be aware that some in your community will fault you for encouraging divorce. The Presbyterian Church in Northern Ireland responded to the Debenhams announcement by calling it “very bizarre.” Keep it dignified. Hallmark Cards has items for the newly divorced with text like “going through a difficult time.” Still, don’t make it somber. Hallmark also put out a card in 1958 reading, “Want to get rid of that ugly fat? Divorce him.”