5 min read
Opinions expressed by Entrepreneur contributors are their own.
In a recession, it’s critical to align with customer preferences to avoid losing sales to rivals. Competition is stiff, as people have less disposable incomes. A 2018 study by the Federal Reserve found that 40 percent of Americans can’t come up with $400 to pay for an emergency. And that’s before 40 million people were out of work virtually overnight.
Here are tips to increase sales, even when the economy is in flux.
A business must do whatever it takes to serve customers well
Buyers are weary. They’ve been locked down, and many have to fight for jobs before unemployment benefits run out. Not to mention 27 million have recently lost employer-based health insurance, according to Kaiser Family Foundation. Post-pandemic