According to this Wall Street Journal article from Dana Mattioli:
“…Sales of caskets have been declining for years as more people choose cremation. But the economic slump is compounding the industry’s woes as those who do pick caskets buy cheaper, more spartan accommodations for the hereafter.
In response, casket makers are diversifying, building less expensive models and expanding cremation offerings …
Part of the problem is people (who don’t) want a casket burial regardless of how strong the economy is (preferring cremation instead) …
Annual U.S. casket sales peaked by volume at 1.9 million caskets in 2000, according to the Casket and Funeral Supply Association of America. Since then they have drifted down as cremations, which cost less and are gaining broader acceptance, have risen.
For the 12 months through September 2009, U.S. casket sales totaled 1.69 million, down from 1.74 million a year earlier.
The average cost of a traditional burial is $7,200, compared with $1,400 for the crematory fee, some form of memorial service and an inexpensive urn, says John Ross, executive director of the Cremation Association of North America.”
Click this link to read the full article: http://online.wsj.com/article/SB10001424052748704511304575075811946202750.html?mod=WSJ_hp_editorsPicks
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