Thursday, July 24, 2008

Deal with issues impacting consumers proactively

It's not a new idea...
businesses just need to do it.

Gas prices have skyrocketed and have impacted consumer spending far beyond merely buying fuel for their personal vehicles. This is due to increased prices across many product types as a result from higher fuel prices for production and transportation being passed along to consumers.
Consumers are feeling the pinch.
If consumers are changing some buying habits this summer -- from what vacations taken to trading in trucks and SUVs for smaller cars, etc. -- what are businesses to do?

Sitting on the sideline should not be an option.
Businesses need to be proactive in addressing such consumer concerns. While offering free or cheaper gas with a purchase is not a new promotion (see example advertisement), it is very relevant to American consumers during Summer 2008. Hotels, restaurants, museums, etc. are promoting how their organizations can be part of "staycations" for those limiting or dropping vacation plans and staying closer to home (see example advertisement).

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