Large corporations are under fire for chasing infinite profits in a finite world, there isn’t an economy without a thriving working class.
Viral this Week:
The rolling boycotts of a certain Canadian grocery conglomerate and a cereal company, Wal-Mart removed self service checkouts due to increased theft, and are being sued for additional items being added automatically to customer’s receipts that they didn’t purchase. McDonald’s and Starbucks have reported a massive slowdown in foot traffic. Wendy’s price surge plan went bust before it even began. Customers are starting to bring weigh scales to supermarkets to check that the product weight advertised is true. Lawsuits for dishonest pricing are skyrocketing. Restaurants with the automatic tipping option have incorrect percentages with padded tipping.
To survive the downturn, it’s time to double down on value. Source the highest quality and least expensive supplies as possible. Buy in bulk, sell in bulk. Advertise a lot of comparison pricing to show savings and relate to your customer's plight with larger portions of less expensive items.
There was a recent Guardian article showing that Victorian era illnesses are making a comeback, such as scurvy, and some of the comments were that cabbage was an excellent source of Vitamin C, and less expensive than a bag of oranges. Consumer spending will have to pivot to even more conservative spending and learn from history on what they did to survive.
If the economic downturn continues, it will be the adaptable that make it. Aldi and IKEA are winning it in their sectors, aggressively advertising reduced costs and sourcing amazing quality products.
If your business needs assistance in pivoting your products and messaging, contact us, we are here to help and we are also reducing our pricing to help weather this crisis!
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