Competing For A Share Of The Consumer's Shrinking Wallet
||Aug 12, 2009
Presentation at Nutro Independent Retail Advisory Meeting in Nashville, TN.
Are consumers starting to open their wallets again? Well, maybe not as wide as we would like them to do. Although, when it comes to products for their pets, research shows that pet owners are not that concerned about doing all that it takes for their pet’s well-being (spending money).
Yet, even if you are dealing with a somehow recession-resistant category, you are not immune from the consumer’s new mantra: expect more for less. More choice (inventory, assortment) for less (money). More excitement (visual merchandising, attractive packaging, store design, environment) for less (again, money). More service (the famed ‘extra mile’ that while in good times gets almost unnoticed, it strikes customers like thunder in bad times) for less (yes, you got it! Less money). More connectivity, more involvement, more exclusivity, more…..lots more for a lot less.
So, how can you do more for less? There are many ways to do it and that is what this seminar is about. Learn the strategies and tactics that can help you build a loyal customer following and create word of mouth publicity for a business that gets it, in a down economy and in a not too distant future in a thriving one.
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