photo credit: macieklew
Everyone in business is contemplating how to get out of the financial crisis we are having right now, how to secure money, profit, customers new and old, etc. But is anyone thinking about how thing's will be after the crisis is over? What will business be like, what will your customers spend their money on at that point, have their tastes in products and services changed?
BizUnite had some interesting facts regarding this very issue. More of the upscale customers who gross $100,000 or more a year have turned to coupons during the crisis and plan on continuing with the coupons even once the crisis is over.
The current crisis made such an impact on the customer world of thinking, that even once it's over, people of all income levels will remain more towards value when buying a product rather then the way they were before when they bought the product as more of an impulse buy.
It is said that the use of credit cards and credit lines will diminish as well. People learned a hard lesson the past couple of year's with wracking up so much credit card debt, they are highly unlikely to go down that road a second time.
What are your thoughts for the customers habits after the crisis is over?