The Cremation Association of North America (CANA) says the 2020 cremation rate in the United States was 56.1%.  That same reliable group says that within the next decade – in 2030 – the national cremation rate will rise to 72.8%.  Considering the fact that the vast majority of cremations in the United States do not use a traditional casket. . . . you might say that the casket business looks pretty bleak in the future.

In addition, Hillenbrand Industries, parent company of Batesville Casket, a very mature and profitable casket company, has told us that post-pandemic the company will see sales decline from 1-4% annually from its casket division.  Again, that business seems rather bleak.

On the other hand, many companies that have had the courage to go into the “headwinds” when others can’t see the opportunity, have profited greatly.  Funeral Director Daily brought you this article introducing Titan Casket in August and now bring you this updated article from Boston Biz Journal that lets us know the progress of Titan and that they are planning a Series A round of investment in the first quarter of 2022.

According to the article, direct to the consumer online casket retailer Titan Casket has “invested heavily on their website” and say they have “sold thousands of caskets a year at an average sale price of $1,300”.  That’s a minimum of about $1.3 million in sales and would seem to give the company some runway as they move forward.  In addition, the company says they are profitable. . . another good sign.

So, in a declining market for this product (caskets), where would Titan seem to get lift?  When you just look at the potential future numbers, their task looks daunting.

I think that there is more in the plan than first meets the eye.  As the Baby Boomers age there will for the next 30 years be more deaths annually in America.  As a matter of fact, excepting Covid-related death statistics, the number of deaths in 2030 is expected to be about 11% more than in 2020.  According to CANA, however, the number of cremations will rise and actually put the number of caskets used at about only 2/3 of the 2020 level.  So, it is not simply a “death rate” increase that is behind Titan.

I see the major force behind Titan Casket is their goal as stated in the article of “becoming the digital solution for funeral services”.  Take a look at the Titan Casket website – it’s pretty comprehensive and immediately shows a consumer a 4.9 Star Rating — giving consumers confidence in its product and approach.  My take is that caskets may be only the first step in a consumer oriented death care hub that will include vaults, flowers, urns, and more.

In my opinion, the biggest advantage that Titan may have in moving forward has nothing to do with death care and/or caskets.  That advantage is the growth of the “Digital Consumer”.  We see it everywhere. . . . . .while Covid has played a part, I doubt we will ever see the mass of humanity on Black Friday carrying packages from store to store.  In today’s world, and the world moving forward, we will continue to see more purchases being done online. . . . .and I think that process will migrate to funeral and cremation services over time. . . . . By the time it does, Titan might be strategically positioned to take advantage of it.

More news from the world of Death Care:

• Post-Covid era era and the U.S. shipping crisis:  Impacts on the funeral industry.    Jerusalem Post
• Columbarium coming to North Dakota Veterans’ Cemetery in Mandan, state leaders push for change in burial eligibility.  KX News Bismarck (ND)
• Decision on winter green burials deferred pending further investigation.  Haliburton County Echo – Ontario (Canada)
• Erie funeral home avoids serious damage from roof fire; cremation suspected as cause.  Go Erie (PA)
• Planning board recommends approval of funeral home in South Forsyth.  Forsyth County News (GA)

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