A Tug of War
This headline in a MSNBC article caught my eye – “Consumers are changing, but are retailers?”
The article goes on to talk about Black Friday, Cyber Monday and the changes being seen in consumer spending habits. My take away from the article: there’s a huge tug of war game going on right now.
On one side are consumers, who say they want value for their hard earned dollar and respectable customer service.
On the other side are businesses who want revenue and profits.
At some point, something’s gotta give. Businesses need to understand when they have good products at fair prices and deliver an excellent customer experience…people will spend money. And, consumers should be fine with companies making profits as long as the company provides a good product at a reasonable price in a pleasant environment.
I’m a little concerned Corporate America is just waiting for the economy to turn around, thinking consumers will simply return to their old spending habits. Sometimes, the feeling that big business just can’t wait to go back to their ‘non-caring, make a buck at all costs’ ways is almost palpable.
This recent recession has been significant and, for many, life changing. While some folks might fall back into old habits, many will not. There’s a reason this period in time is being labeled the “Great Recession.”
Not only is the way we market our businesses changing, but so are the standards of service. Am I the only person seeing this? Drop me your thoughts below.
P.S. The holiday season is officially upon us. Thank you for being a part of the HR Bartender community. Your support means the world to me. I hope you have a wonderful holiday filled with peace, love and happiness. Oh and don’t forget the turkey and football games.
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