Stay Abreast of Consumer Trends

Time saving is important even in retail stores. Studies have shown the consumer will take between 3 and 6 seconds to choose a product. Think about that. In the sea of similar products, only a few seconds separate competing brands.

Another current trend is lower cost. With savings and 401(k) accounts in the dumpster, consumers have become tighter with their money. What has suffered? It's easy to see that the auto industry has suffered. Retail stores and restaurants are also among those suffering from the lack of spending. Consumers still enjoy the same types of products, but costs force changes in spending or buying habits. An example is the change in the frequency, location, and types of restaurants consumers visit during economic downturns.