Spring in Your Step?By joanne | 22nd January | Marketing Ideas, Marketing Skills, Marketing Strategy, Marketing Training
It’s no secret that 2009 was a tough year for a lot of businesses. Many consumers noticed a drop in income; whether through reduced pensions, redundancies or increased outgoings. As a result, many had to re-budget and tighten their expenditure. But people still spent money…
Gym memberships were down on the whole, but sales of aerobic DVDs and home exercise equipment were up. Restaurant sales were down, but the cinemas did very well. Organic sales were down, but fair trade were up. Whatever the economy, someone always benefits. The question is, how do you make sure your business is in the right place to take advantage? And, if you are in the right place, do you have the right skills and knowledge to take advantage?
2010 looks set to be another difficult year. The majority of economists are predicting the continuation of recession at least into the summer. Property down-cycles historically have taken 5 years to recover fully, so many estate agents are expecting another difficult year.
But, to add to the confusion, we have an election taking place. Could that bring about the end of the recession? It’s likely to have a huge impact on the economy – and it will certainly bring opportunities with it – regardless of which colour comes out on top.
Either way, the following are just a handful of the things we expect and will be watching with interest:
- Public sector jobs are likely to be at risk this year; following a huge investment from the government in 2009 to bolster our economy.
- As a result, trust will continue to be high on the agenda for consumers; further pushing Corporate Social Responsibility and ethical marketing trends.
- More redundancies will lead to more home-based businesses and technology is facilitating that
- Mobile phones will continue to develop and compete with hard-wired alternatives
- Property will continue to be deflated until the banks start lending money
- British holidays are likely to remain popular, as people get fed up with additional security measures and choose to support our economy instead (the weather will likely play a significant part in this.)
These are just our best guesses, based on what we’ve seen and read. It’s crucial you know the trends within your industry and customer segments, so you will be better placed to take advantage and use your marketing research to capitalise on the opportunities 2010 will present.
If you don’t know… ask someone to help you. You need to understand this information if you want to boost your business and take advantage of what 2010 has to offer.