With the help of retail guru Brian Walker and sales expert Sue Barrett, the article suggests the retail sector should avoid a business as usual approach and start thinking differently.
Accordingly, the following tips are offered to encourage consumer spending:
- Be essential - focus on promoting products that cash-strapped customers consider to be 'essential items'
- Foster loyalty - collect customer data at the point of purchase and offer exclusive offers to loyal customers
- Aim for transparency - be upfront about prices and forget the outdated model of requiring customers to haggle for the 'real price'
- That's entertainment - offer customers a reason to return to a retail environment though engaging design, service or selling style