In times of economic contraction, consumer priorities shift dramatically. Discretionary spending dips, while “must-have” products and services tend to fare better. That means it’s time to reassess your offerings. Ask yourself: Does your product or service solve an urgent problem for your customer? If the answer is no, consider repositioning—or even reconfiguring—what you sell to better align with current needs. This could mean pivoting from premium, luxury-focused products to essentials with strong practical value, or reframing a service in terms of efficiency and ROI, or value-on-investment.
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