By Mo Yusuff Turns out my best friends biggest customer, who she was always worried she may lose, she...
21st June 2018
By Mo Yusuff
It’s always sad when a company goes bust.
People’s livelihoods are at risk and all the passion, hard work, and effort building the business lost forever.
And the really sad thing is that in almost every case it happened for the same reason…not responding to changes in the market.
Take the last high profile case, Toys R Us. They’ve gone tits up because they carried on with the same old format even when it became obvious it was outdated.
Back in the old days, some 30 odd years ago Toys R Us stores were magical. They’d have staff demonstrating toys, encouraging kids to play with them and there was a real exciting buzz in the stores.
Today the stores look shabby. The big out-of-town warehouse style format just doesn’t work anymore. The kind of stuff kids want these days are now tech-related, such as virtual reality headsets, drones or go-pro cameras. And you don’t need to go into a toyshop to get these.
Although online shopping has also affected sales, we shouldn’t dismiss the fact that lots of people still love going into stores to look at and touch stuff before they buy.
I know it’s easy to criticise but what if they’d have changed the format? Created a theme park kind of experience where kids could go for the day and do stuff that kids enjoy doing.
It’s so important to keep up with what’s going on around us. What worked yesterday doesn’t today.
Even our industry is affected by new trends. Remember the mousemat? Laptops have put paid to them. Car tax disk holders? As much use as a chocolate teapot.
Anyway, never lose touch with what your customers want and the ways to keep them buying from you. Like us, we are doing our best to keep in touch with our valued customers to keep them updated about the latest range of promotional products in the market.
If you are ready to invest in promotional products, simply click this link, enter your details and we’ll get back to you straight.