Jewelry stores are among those that have been hardest hit in the recession.
Likewise, upscale retailers and sellers of large-ticket items like furniture have suffered. As noted in the past several columns, the businesses that are doing well are those that are considered necessary. Dana Vanden Heuvel, marketing expert and owner of MarketingSavant, talked last week about the importance of being “relevant” as a business. He shared specific ideas that entrepreneurs may be able to adapt. To summarize some of those thoughts: “The worst sin of all is not to communicate,” says Vanden Heuvel. Whether that’s an effort to improve the image of a business or to encourage consumer buying, social media provides an exceptional resource to change the conversation in a positive manner. Even though the public media might be discouraging consumer spending and causing fear, Vanden Heuvel says that we can let people know that they aren’t stimulating the economy by holding on to their money.
Tina Dettman-Bielefeldt is co-owner of DB Commercial Real Estate in Green Bay and Assistant District Director for SCORE, Wisconsin.