Now that the holiday shopping season has come to an end, brick-and-mortar retailers may need to devise new strategies to keep customer satisfaction and loyalty.
While retail revenues tend to stagnate in January and February as consumers make New Year's resolutions, have less to celebrate and attempt to recoup what they spent during the holidays, it doesn't mean that there aren't ways to attract consumers.
In a recent article from the Fox Small Business Center, numerous experts name deals and discounts as the prime way of attracting business in lean times, especially as people are now mainly shopping for themselves instead of others.
"It has to be sale merchandise, things that make people feel that it is an unbeatable bargain," Kit Yarrow, a consumer psychologist and professor at the Golden Gate University, told the source. "In the headiest of economic times people still cut back in January and February ... and no matter how optimistic consumers feel they've been trained to expect juicy discounts."
However, retailers can't just depend on discounts to keep customers happy. An eye for atmosphere and customer service are crucial as well.