The Elvis Economy: Not All Heartbreak HotelAugust 30, 2010 - 3:35 PM | by: Ruth Ravve
While the economy has been “All shook up” in the past couple of years, nobody seems to be checking into “The Heartbreak Hotel” anytime soon, because things are improving. At least that’s the way it seems, according to the Elvis indicator.
Owners of shops that sell Elvis memorabilia say the King is back.
During hard times people try to cut out non-essentials. While some may argue that Elvis trinkets are essentials, Joe Harten, of ”Been There Gifts”, which sells souvenirs from rock ‘n’ roll legends, says there had been “fewer blue suede shoes coming through their doors” since 2008, but lately the Elvis goods have been moving off the shelves.
It could be a sign that people have more disposable income and that the economy is improving. Elvis impersonators are apparently increasing in popularity too, and the impersonators are also customers.
Jim Braet of the Elvis specialty store True Legends says he’s seen “a slight increase” in sales lately, but he thinks the Elvis interest “might just have to do with the fact that people want to go back to a simpler time when life felt safer and more comfortable, like the 50’s”
Maybe Wall Street could take a lesson from the King.
The next time someone wants to know if the economy is about to “Shake, rattle and roll,” check the Elvis indicator.
Or just ask former Illinois governor Rod Blagojevich, who’s life-sized plaster Elvis statue just sold for $20,500.