Making Up for a Slowdown in Premium Goods Sales
Premium pricing is bringing down retail giants. If you’re a small retail store dependent on premium goods, track your premium-priced products and innovate on how you package and sell these goods. Adding less expensive items in a similar quality range may help make up for a slowdown on premium goods sales, while still continuing to attract high-end customers. It will also be important for you to innovate as you never have before—a process that may start by quickly setting up a focus group of your target customers, and then listening to what they have to say.
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