Where do we go when we die? In some cases, maybe someone’s record collection.
An increase in cremations and a desire for more personalized ways to store ashes is opening a path for startups to succeed in the $16B funeral industry, per Bloomberg.
They are cheaper than burials, and many families have chosen this route as the pandemic postponed original funeral plans.
Cremations accounted for 56% of US deaths in 2020, according to the Cremation Association of North America. The number is projected to rise to 73% by 2030.
… that honor their loved ones have found fresh options thanks to startups.
But how new is all this?
Not at all! “Mourning jewelry” was all the rage in the Victorian era, made with ashes, hair, and teeth. Or… a glass eye.
Related: The Hustle previously reported on the funeral industry monopoly, with 2 companies accounting for 80%+ of casket production.