Retailers have to market differently to consumers as well as do more of what is working. THE ECONOMIST reports that the U.S. economy is shifting from a consumer to an export one http://www.economist.com/node/21558591. The Federal Reserve attributes much of this to consumers paying off debt. They are spending less.
Image Marketing Consultants has these 3 tips:
- Listen to the marketplace through special events and social media. Consumers will tell you what should stay the same and what else they want.
- Experiment with some price points. Often lowering those on popular items will make consumers feel safe shopping with you.
- Entertain. That could be as simple as background music or as exotic as having drama students putting on skits in your store.
Kate Sirignano, founder of Image Marketing Consultants, welcomes your questions on marketing in a shifting economy Kate@imagemarketingconsultants.com.