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When economic uncertainty rises, consumers don’t just “spend less,” they fundamentally change how they make decisions. Research shows that during periods of instability, people shift from “promotion-focused” thinking (seeking gains and opportunities) to “prevention-focused” thinking—avoiding losses and protecting what they have.
Your customers aren’t just being more careful with money; they’re operating from an entirely different psychological framework.
If you, as a retailer, can’t adapt your marketing strategy to better fit this mindset, it’ll be difficult to grow or even maintain your current sales or recover from a dip.
Listen to episode 250 for six behavioral strategies to build certainty in uncertain times. For show notes, visit www.savvyshopkeeper.com/episode250.
Kathy Cruz is an Independent Retail Coach who helps store owners work smarter, profit more, and grow their brick and mortar businesses. Connect with Kathy and learn more here:
Website & Mastermind Group: Savvy Shopkeeper Instagram: @savvyshopkeeper
5
130130 ratings
When economic uncertainty rises, consumers don’t just “spend less,” they fundamentally change how they make decisions. Research shows that during periods of instability, people shift from “promotion-focused” thinking (seeking gains and opportunities) to “prevention-focused” thinking—avoiding losses and protecting what they have.
Your customers aren’t just being more careful with money; they’re operating from an entirely different psychological framework.
If you, as a retailer, can’t adapt your marketing strategy to better fit this mindset, it’ll be difficult to grow or even maintain your current sales or recover from a dip.
Listen to episode 250 for six behavioral strategies to build certainty in uncertain times. For show notes, visit www.savvyshopkeeper.com/episode250.
Kathy Cruz is an Independent Retail Coach who helps store owners work smarter, profit more, and grow their brick and mortar businesses. Connect with Kathy and learn more here:
Website & Mastermind Group: Savvy Shopkeeper Instagram: @savvyshopkeeper
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