The Top 5 Ways Brands Can Succeed In An Economic Crisis
You can do a number of things to help a brand ride out the storm of an economic downturn. Here are 5 courses of action:
- You can position yourselves as a one-stop shop for essential categories to draw shoppers cutting back on trips due to elevated gas prices
- Tag brands with a high wellness quotient — two-thirds of adults say health drives their food selections
- Increased sampling of products across the store encourages shoppers — primarily low income — to make a purchase they had not intended
- Cross-promotions at the shelf level are an effective tool to increase sales of products often abandoned during tough times. For example, coupons for cookies in the milk section
- Shoppers are already skipping aisles and this may increase. Tempting them to shop all aisles using featured super-low prices on attractive items is an effective tool