Business during a Recession

I sell Islamic clothing online at http://www.middleeasternmall.com/ and at our retail shop, Middle Eastern Boutique in Richardson, Texas - Tel: (972) 479-9009. Of course, I can see a slight decline in sells but we are still going strong, Alhamdulilah. There are several things you can do to keep money rolling in, in whatever business you have. This is the worst time to go out of business. Let your competitors go out of business. This is when the cream rises to the top, if you are persistent and put a success plan in action you can actually thrive even in these tough times.

1. Need some quick money, have a sale. Just make sure you let people know about it by advertising or sending notifications to customers who have given you permission. Everyone loves to save money at a sale and usually will spend more money because they feel it is justified.

2. Have a well defined market for your business called a target market. My target market, of course, is Muslim women which makes it easier for me to focus my marketing efforts.



3. Increase your marketing and use creative marketing. If shoppers are spending less money, just bring in more shoppers with marketing. Remember your competition has probably just reduced their marketing efforts to save money so it is the perfect moment to increase yours. Plus advertising rates will fall when the demand for advertising goes down so be sure to negotiate the rates. During an economic crunch most companies mistakenly cut their marketing budgets thinking they can do without advertising.

4. Carry more affordable lower priced products maybe focus less on luxury and more on unique or necessities. Be sure to carry some cute low priced items near the check out to up-sale. Upselling is if every customer spends just another two or three dollars it adds up significantly over time so have a few tempting items for them to look at while checking out.

5. Open longer hours and more days. Some of my best selling days are federal holidays when many places are closed.

6. Increase the places where you sell items... conventions, ebay, amazon.com, community functions. Be sure to collect info at each venue for follow up with customers.



7. Network and branch out. Work with competitors. I often refer customers to my competition because I have name brands I know they don't carry. If my customer is not willing to pay extra for the name brands I have, it is better for them to shop elsewhere. Most come back recognizing the quality difference and appreciate my huge selection.

8. Have workshops or functions in your store, home or where ever you sell. People love to learn new skills especially for free with like minded individuals. It is a great way to create a buzz about your business.

9. Get noticed by slightly changing the appearance of your business. Put some white lights in your window, add some nice planters outside with flowers, change your window display, re-arrange your store, change the trim paint color... you get the idea. The more creative the better the response.

10. Give customers who spread the word about your business some kind of incentive. When they bring in a friend give them a discount or free gift. Or give customers a business card and have them write their name on the back and have people bring them back into your business. Compensate them nicely and you will see how well other people will tell others about you. Nothing better than friends giving referrals.

11. Make sure customer service is top-notch from answering the phone to greeting everyone who walks in your door. Your efforts are in vein if you do not treat customers graciously even if they do not spend money. Customers need to have a pleasant experience because they will become repeat business and tell family and friends! It is easier and cheaper to keep the customers you already have then to gain new ones.