Blogs by Cari Peek
Assessing Willingness To Pay In An Economic Downturn by Cari Peek
Times like these undoubtedly lead to changes in consumer spending.
Facing this downturn, businesses are struggling with tough decisions on whether to increase prices, and by how much. When making these decisions, it’s important to know how much a consumer values your products. What are the pricing parameters for your offerings that ensure continued customer demand, and at what point do you start pushing your customers out of your brand? Understanding Willingness To Pay (WTP) can help businesses answer these questions.
The New Kid In Town: Gen Z by Cari Peek
Social, economic, political, and technological advancements made a mark on Gen Z.
Understanding their generational mindset is vital to helping marketers better understand how to reach and communicate with consumers. Currently, Gen Z represents $44 billion in direct buying power in the U.S. – and most don’t even have jobs yet. As you read the details that follow, I challenge you to think about your brand and how Gen Z’s perspective on these events and societal norms may impact it.
At the beginning of 2020, the restaurant industry was thriving. A few short months into the year, this industry, along with many others, was brought to its knees.
While it still has a tough road ahead, the foodservice industry has proven its resilience through innovation, creativity, and reinvention. There was a quick pivot to online ordering/delivery models, and fast adoption of new service ideas.
The customer experience is as important as the products and services a company provides.
Any brand’s or retailer’s best path to an optimized customer experience is with its frontlines: their cashiers, waiters/waitresses, store managers, customer-service team members, etc. These are the people who interact with customers every day and can make or break a positive experience. How can you ensure employees take an active role in optimizing the customer experience?
Contact Decision Analyst
Cari Peek (email@example.com) is a Vice President at Decision Analyst. She may be reached at 1-800-262-5974 or 1-817-640-6166.