By Jerry Bellune
Alert business owners and entrepreneurs need to be aware of new consumer trends that may help – or hurt – their business.
• A local ad agency survey found that some behavioral changes may be long-lasting. While 92% of consumers wanted to go out to eat, 67% planned to cook more at home and 41% planned to order take-out once the covid-19 crisis subsides.
67% missed going to movies but 56% were more likely to stream movies at home.
• Bringing manufacturing back to the US, especially in critical products such as drugs and technology, could have positive impacts on South Carolina. Low labor costs and lack of union resistance to modern production methods will make right-to-work states appealing to manufacturers.
• Consumers who rarely if ever bought products online have been forced to turn to the internet. Now that they realize how convenient it is for many products, they are expected to continue to buy there. As for shopping in women’s fashions, they can watch shopping channels and buy there.
We share such ideas in “Maverick Entrepreneurs’ Million Dollar Strategies.” For a $20 personally autographed copy, contact us at 803-331-6695.
Do you see other trends? Please let me know at [email protected]
Next: More trends that could help or hurt your business’s bottom line.
Copyright 2020, The Bellune Co., Inc.