Keys to any brand's success during an economic downturn are:
- Simplicity- non-essential product features that encourage customers to trade up will be less relevant & attractive
- Honesty- be true to your customers & pricing this will garner goodwill and customer loyalty
- Clarity- be clear in your message to the consumer, no more reading between the lines
Innovation and value will triumph, and only retailers & industries who continue to provide a gratifying shopping experience coupled with surprising value will survive. Digital media will continue to flourish, allowing companies to operate & market more effectively. Speak directly to your customers and don't lose site of their value.
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