Do you know what your customers want? Tuesday Morning CEO Kathleen Mason said at the 2008 Retailing Summit that — during the economic downturn — understanding the desires of customers is more important than ever.
The Summit was sponsored by the Center for Retailing Studies at Texas A&M University’s Mays Business School.
Recent research indicates — according to the fall newsletter of the Center for Retailing Studies — that consumers are seeking:
- Time savings
- Home delivery
- Turnkey solutions where one step solves their problem
- Quick to prepare, no-assembly products
- Smaller/more convenient products and services
- Healthier and greener
Perhaps you can look over that list and adjust your product offerings accordingly. Or, maybe an even better idea is to find out what your customers want. You could ask them. You could e-mail a quick survey to them. You could put suggestions sheets throughout your store.
Everyone knows consumer budgets are tight and getting tighter. They will buy what they need, and why shouldn’t they find it at your store?