inflation
Research shows customers are 208% more concerned with inflation than Covid-19. This means they aren’t spending like they used to and we understand this can make or break most businesses.
Solutions:
• Offer free shipping incentives
• Expand free local pick-up & delivery
• Offer discounts via product bundles, subscriptions, or loyalty programs
• Reduce overhead costs though automations for customer support
supply chain management
With the global supply chain being disrupted by overseas lockdowns, rerouting of deliveries, and rising global inflation, businesses like yours are struggling to keep up with their retail calendar.
Solutions:
• Buy smaller MOQ batches to test the market and avoid sitting on inventory
• Adapt to demand by diversifying your products to increase sales
• Reduce returns and increase customer confidence with customer-focused promotional incentives
collaboration
With brand collaboration often comes a few concerns: communication, aligned goals, trust, culture, shared problem-solving, and most of all cost. With the increased importance of collaboration, here are ways your business can still reap the benefits:
Solution:
• Open different avenues of collaboration through in-person events, engaging with your community offline & online, and connecting with like-minded business owners
• Consider micro-influencers with an engaged audience that fall within your niche
• Have a clear pitch approach, budget, and use bartering tactics when possible
• Rethink loyalty programs to include collaboration-driven incentives such as affiliate links