Retailers are posting quarterly profit drops of upwards of 50 percent, and consumers are downright pessimistic, holding on to their wallets in ways that border on the historic.
Let’s face it, how your business responds in this economy will determine if you survive. If you don’t respond in the right ways quickly enough, you might be toast.
Companies that survive to see the light after the clouds lift are paying even closer attention to the customers they do have – loyalty is big now – and giving them a good value for their dollar. These are the messages your advertising and marketing need to be pushing.
Here’s a great piece from a consumer-engagement expert on how to reposition yourself and your business expectations in these trying times. It examines consumers trends like “want vs. need” and “smart spending” – and how you can take advantage of them.
