During times of recession Americans are less than keen on going shopping\u2014no surprise here. Even when the economy is booming, most Americans never weigh the costs and benefits of buying alligator skin boots, belts or bags, wallets or watches. No matte<\/p>\n
r how well the economy is doing, $2000 for Gucci alligator skin loafers or $100,000 for an alligator skin Birkin bag by Hermes, one of the most prominent players in exotic tannery business, never seems worthwhile. Apparently during recessions the wealthiest Americans are hit hard too\u2014right in their $11,000 Burberry alligator skin wallets; but that\u2019s just fine by the alligator population.<\/p>\n
As it turns out, sales of alligator skin goods plummet during recessions. Economists first noticed this trend during America\u2019s most recent financial crisis in 2009. There is little available data concerning alligator populations in the US, though experts generally believe that the total population has steadily increased since the 1970\u2019s. Louisiana is home to one of the largest alligator populations in America, and the industry makes a somewhat significant contribution the state\u2019s economy. Louisiana\u2019s Department of Wildlife and Fisheries website has an entire menu section dedicated to its \u201cAlligator Program\u201d that’s separate from information about other wildlife. Maintaining a healthy commercial farming population requires alligator farmers to rent helicopters to scout nesting areas, wade into marshes to collect the eggs (and potentially confront angry female alligators), and invest considerable time and energy into raising them in captivity. Bottom line: if hides aren\u2019t selling farmers are losing a lot of money.<\/p>\n
During the Great Recession many, if not all, of the state\u2019s alligator farms experienced serious liquidity issues and worried about their business\u2019s solvency going forward because the prices tanneries and high-end fashion houses were willing to pay for hides dropped so quickly. This industry was affected so severely that Louisiana\u2019s Alligator Management Program report since 2008 lists an asterisk next to the revenue data from that year stating, \u201cWorldwide economic recession caused alligator hide demand to decrease dramatically.\u201d<\/p>\n