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Knowledge is Power!

The 2008 Christmas season will definitely be a reflection of the economy at the time. And by all accounts, the economy during Christmas 2008 will not be good. As more and more economists tell us that we haven't yet hit rock bottom, the worst is yet to come, etc. I think it's only fair to conclude that we will be in for a rocky ride not only for the end of 2008 but most if not all of 2009. Let's hope it ends in 2009! But, time will tell.

But, back to 2008 Christmas season - how can you prepare your business? If your business is brick and mortar, if it's online, if it's both, you need to make sure that you'll be ready for the holidays. Mark Hutcherson from the Hutch Report gives his opinion, "My personal opinion is that 2008 will be a banner year for online shopping in the US. Unlike traveling from store to store looking for the best price on a Christmas gift, millions of Americans will use the Internet to find and buy those gifts at greatly reduced prices. This trend toward Internet shopping in 2008 will further put pressure on local retail locations to also cut their prices much earlier than they would prefer to do."

Do you agree with him? If you do, are you prepared to meet the needs of your customers?

Maybe you don't agree with him. Maybe you think it'll be a very slow season, that may be true, but what if you're wrong? Will you lose out while your competition wins?

Australia's CRN reports "Credit crunch sending shoppers online for cheaper presents."

Here are some quick tips just in case you haven't yet begun to think about the 2008 Christmas season.

1) Discount, discount, discount. This year it's all about how low can you go?
2) Be more mindful than ever about the needs of your clients. How can YOU make THEIR lives easier?
3) Build your online trust by joining and participating in the social media programs like Twitter, LinkedIn, Facebook, etc. It's the best way to build your online trust factor.

Although the world has less to spend this year, it doesn't mean they will avoid spending. Christmas and the holiday season in 2008 will still occur, will your business be a part of it? Or will you just be watching?

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Comment by Esther Kane on November 3, 2008 at 10:45pm
Yes, absolutely. I agree completely. I think "frugal" will be a term that will get alot of hype in this coming year. Anything that can save not only resources but money as well. Thank you for your comment.
Comment by Stephanie Fischetti on November 3, 2008 at 1:43pm
I think it might be a good year for items that hold their value, items that can be used for making or repairing needed equipment or household goods, do it yourself items, and second hand items. That is, if customers can use the item to produce something, repair something, if it costs less to begin with, or if they can see the purchase as an investment, it is probably something that has a good chance of selling.

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