The recession is hitting everyone hard. Even employees who normally are insulated from economic downturns, such as government officials and teachers, are worried about losing their jobs. Millions of families are facing the possibility of losing their homes, while others taking family members or friends in who have already been hurt by the financial crisis. Countries across the globe are feeling the recessionary pains. And just as with seemingly everything else right now, mystery shopping is also being hit with hard times.
Going, Going, Gone. The largest number of mystery shopping assignments are for the retail, entertainment, and restaurant industries. Unfortunately, when consumers pull back on their spending, clothing, meals out, and movies are often the first parts of the family budget to be scaled back. Retailers have been hit hard by the recession, resulting in many stores and restaurants closing their doors, while some chains have completely gone out of business. The result is a reduced number of places in need of mystery shoppers’ services.
Trimming The Fat. Just as your family is doing, truly everyone is cutting back on expenses. Locally owned businesses to major corporations are reducing staff through layoffs, cutting back areas, minimizing internal costs, and more, trying to survive this economic downturn. While customer service plays a critical role in a consumer’s decision to visit a particular retailer, many companies right now have simply entered a survival mentality and are trimming their budgets down to the bare bones. The result is that even retailers whose doors remain open are cutting back on their mystery shopping expense. This may mean a reduced number of assignments offered, giving you as a mystery shopper fewer opportunities to earn extra cash.
How Low Can It Go? Another unfortunate result of companies’ budgetary cuts is that assignment pay is being reduced, almost across the board. What once was a $10 or $15 assignment, now may be closer to $5 or $8. Mystery shoppers who once were boycotting low pay in the hopes of driving mystery shop pay upward are now faced with even more lower paying assignments and a very limited number of what mystery shoppers consider an acceptable level of pay.
Making The Best Of It. With fewer assignments to choose from and lower pay, mystery shoppers are struggling to make the level of income they once made. This is unfortunate because it is happening at a time when many mystery shoppers need to rely more heavily on mystery shopping to supplement other sources of income or to boost savings and retirement accounts that have been slashed by the stock market’s downward spiral in recent months.
The current economic situation is not ideal by any stretch of the imagination. Yet mystery shoppers who continue working through the current market conditions will find themselves in high demand for their loyalty and experience once the market turns around. So keep your nose to the grindstone and be thankful for the jobs that are still available while you wait this recession out.
I agree with this article. I have seen a 50% reduction in the number of assignments available in my area. My MS’ing has been far and few that I am now cleaning my house on a regular basis and cooking instead of getting paid to eat out. It really sucks I hate cleaning.
A lot of the sites that gave me a lot of assignments simply don’t have anything. I have seen about a 50% reduction as well. What makes it worse is that I have been out of work for over a year and no one is hiring! It’s definitely hard out here. I keep trying to work at.
I, too have seen a reduction in assignments. Fortunately I have a decent paying full time job, but need MS to supplement my income since I am single and have a home to pay for and need to save for retirement,etc. I used to average 20-30 assignments per month and now am averaging 15-18 per month. I still will not accept those shops that pay $5 and want you to visit several depts and speak with 5-6 employees. I do accept an $8 shop for a company that shops a party supply store to get reimbursed for items I would buy anyway. That’s my limit. Best of luck to everyone!
I will always accept anything as long as I am going that way anyway. Just like you said, loyalty counts.
Thank you Mave, you have echoed my thoughts precisely. What I see however, is more mystery shoppers in my area.What this means to me; a lot of people lost their primary jobs and having to subpliment the family income by doing odd jobs. It is harder every day for me to get an assignment before they are scheduled by some other shopper. Yesterday an assignment come over the internet, I signed less that one hour and the assignment was scheduled. Oh well better times ahead, looking forward to it!!
I recently relocated to North Texas from Fort Lauderdale, FL. I have more assignment that I can handle. This is of course a much bigger state an a very desirable area. I love it here. The people are so friendly and have made me feel very welcomed. I agree, as soon as the assignments are posted, they go very quick; much more than I have seen in the past. One rule of thumb, if you are home and you have an email alert, set it lud so as you are doing things in the house you can here when you get emails, they may be jobs coming in.
Well, it has hit me so hard that I took another job…”BABYSITTING” at $150.00/week. Not too bad for an old retiree. Its my grandson, but they begged me, to do it. Since they can’t find anybody else that they feel is responcible enough and trustworthy. Got to do what you got to do. I’ll probably be babysitting the whole family, if they get laid off. Ha!
I’m still resisting the temptation to do bank shops that require talking to a sales rep about opening an account, and also inquiring in depth about CD’s and other instruments. “Expect to spend 30 to 45 minutes at the bank.” Then filling out a 6 page report, with much essay work. For $10. That’s about $3.50 an hour without drive time.
Maybe they are getting the shops filled easily, and don’t need l’il ol’ me.
Has anyone tried, on these repetitive shops, to come up with an essentially canned presentation, and essays? It seems to me that the responses are often nearly identical.
I too have seen a large reduction in higher paying assignments and many companies now do not have any assignments at all.
Rather than turn down those $5 jobs, schedule them so that you have several in that area. That way you make a decent income for that day.
I am finding it very difficult to survive and this income is critical to me keeping my home…foreclosure is looming.
I find it very hard to convince myself that I can any longer be convincing with the bank shops. I have lost all confidence is our monopolistic capitalism form of economics.
But…if gas doesn’t go any higher, and it is so much more expensive in So. Calif., I will keep doing the shops.
I also find it much harder to cluster shops together to make the gas expenditure feasible and to keep any profit from the shop.
Oh well. Peace out folks.
I do several bank shops per month,they pay $12(teller)-$20(inquiry). They only take 15-20 minutes for the inquiry shops and much less for the teller shops. I’ve opened up bank accounts just so I can do these every month. Perhaps its different in the Northeast where I am. The bank shops are the majority of the assignments I do.
I recently began mystery shopping in January 2009, as a result of the declining economy. My future of self-employment in the mortgage and real estate arena at best looked bleak.
Although I truly enjoy and believe “mystery shopping is in my veins”, the sheer volume of registration, login and passwords, not to mention the oftentimes “immediate need” to have that information at your fingertips, is challenging. The TIME it requires is monumental particularly in the beginning. As the prospect of securing employment sinks to an all-time low for so many of us these days, I often find myself thinking…“Thank you Jesus”, for immediate opportunities. As a mystery shopper I have the peace of knowing if I can’t afford a meal, at least I have the opportunity to work for one.
As the owner of a “loan signing agency” whose purpose is to sign and notarize mortgage loan documents with borrowers, the blessing of a “bird’s-eye-view” is exactly what motivated me to remain in a cyclical industry known for its peaks and valleys. I have witnessed first hand the damage real estate lenders and representatives can inflict while unmonitored and unaccountable. Regulations such as RESPA and the “Federal Truth in Lending Act” have done little to shift the scale for consumers. Furthermore, the “death blow” our global economy has taken is in large part, a direct consequence of their greed.
It is for this reason I came up with a plan to educate and equip borrowers in THE TRUTH ABOUT LENDING. It’s about time we shift the power out of dishonest lenders and real estate representative’s contributing to the destruction of our economy AND, put it back into the hands to whom it belongs, the consumer.
Loan Modifications:
For those you know who are late or in default of their mortgage loan(s). MODIFICATIONS are an excellent option right now. Keep in mind:
• They are based on WHAT YOU CAN AFFORD to pay.
• Modifications DO NOT REQUIRE good credit, or any credit for that matter. You’re credit rating does not come into play in qualifying, your debt ratio does.
• You CAN do a loan modification yourself. Call your lender and ask for the “Loss Mitigation Department”.
• You have the OPTION of hiring a professional.
• It will cost you about the same (either way.
• Walk away from any firm asking for more than “about a month’s mortgage payment”. Most will prequalify you for free.
• Not all modification experts can get your taxes brought up to date. If you are behind on your taxes as well, make sure to ask this question of your lender or modification specialist.
Upside down on Loan To Value?:
If your property value has declined and you are upside down on loan to value, contact the tax assessor’s office and get your property taxes reduced. In California, you need three comps (try Realtor.com for these) and a completed application which can be found online at the assessor’s website.
K – I completely agree with you… and if these companies want to reduce the pay they should reduce the size of the report also. the banks that were paid for both parts are now requiring 2 parts and reports but only paying for one.
Tina- please respect the rest of us. This is an M’shopping posting area. I am sure there are plenty of political posting areas elsewhere.