The Small Indulgences (Bundle)

Hi everyone, Carl Gould here with your #70secondCEO. Just a little over a one-minute investment every day for a lifetime of results.

 

One of the Silver Linings that inflation brings to us is because people have less discretionary income, they are more likely to do a staycation, meaning they're going to vacation close to home. And so they can't go to Disney World or they can't fly somewhere because the cost of travel and accommodation is so high. So they tend to stay local. They call it the small indulgence. And so if you're a business owner, and you have any sort of tourist attraction or Airbnb, or you have a business down by the boardwalk, or any one of the lakes when you're Delaware Water Gap, this could potentially be good news for you. And the strategy that you would use in a time like this is what we would call bundling. In other words, you would take multiple products and services and put them together at one discounted price. So you don't just sell them the T-shirt. You take the t-shirt and the baseball cap, you wrap it in a rubber band, and instead of it being $35 between the two, it's $29.95. So you would bundle experiences, products, and services is be attractive to the New Jersey resident.

 

Like and follow this podcast so you can learn more. My name is Carl Gould and this has been your #70secondCEO.