This year e-commerce sales are hitting all time highs, including four $1B days during the week of December 12th, leaving many people to ask “what recession?”
As our economy recovers it is becoming more and more evident that shoppers are looking for — and getting — deals left and right. Extreme couponing, extended sale periods and instant price comparisons thanks to smart phones are turning the tables at retail very strongly in the consumer’s favor.
Small businesses will feel the pinch before the big box stores that are driving price cuts. Smart business owners will combat this trend by providing exemplary customer service and demonstrating the value — not just the price — their customers get when they do business together.
Once you’ve got your margins down pat, turn an eye to your value proposition. Selling people on a full experience will beat out price. But only if you sell it right.