HAIR OF THE DOG & THE AFFLUENCE HANGOVER
Customers have enjoyed years of relative affluence allowing them to pursue immediate satisfaction of their needs and desires. People are addicted to the power of purchasing to feel good. Retail figures show that even in tight times this addiction to satisfaction is never entirely dead. Aspirational consumers crave that which is out of their reach and those in the business of luxury meet this demand by offering a taster at a lower price point to get them hooked. Mature customers assuage the guilt of purchasing by turning their loyalties to local providers, reassuring themselves that they’re keeping fellow Australians in jobs and supporting the local economy. Indulgence remains acceptable as long as the transaction offers value and the experience is one of quality. Why not tap into popular sentiment by promoting your loyalty to local suppliers, supporting your neighbourhood (whether physical or online), engaging your customers in conversation, getting to know them, letting them get to know you and helping them develop a bond with you and your staff? When your customers truly care about you, identify with the philosophy of your brand and have a vested interest in whether your business lives or dies, then, and only then, will your venture have the basis on which to remain sustainable.
Vanessa Cullen
As Principal of Forward Thinking Design, Vanessa Cullen specialises in creating memorable customer experiences through fitout design and project management for restaurants, clubs, retail stores, commercial offices and healthcare centres. Contact her directly on 0403867807 or email [email protected]