Times are tough and there is a lot of uncertainty in the air. So while people are starting to tighten their purse strings how do you prepare your business and what should you be focusing on right now?
A recent survey by eCommerce review platform Yotpo found that 51% said news about the economy has them spending less.
69% of people said they were more likely to shop in store than they were a year ago.
More than half said they are spending less on electronics, home decor, clothing and accessories.
There were, however, some positives to come out of the survey with 82% of those surveyed saying they will still buy from their favourite brand.
And more than 65% said they are willing to spend more for an item if it’s more convenient to buy.
So in today’s episode I’m talking about how to grow your brand loyalty, generate repeat purchases and prepare your business for a potential recession.
- Recent eCommerce survey by Yotpo [01:49]
- Building customer loyalty [03:28]
- Creating an experience for yout customers [06:03]
- Growing your community [09:08]
- People buy from people [10:14]
- How to make shopping more convenient [12:06]