Tucker Matheson is a co-founder and Managing Partner at Markacy , a digital marketing strategy firm headquartered in New York City. getty It’s hard to get through a business day without hearing poor economic news and forecasts of rising inflation, interest rates, energy costs and an impending recession in 2023. According to a 2022 McKinsey & Company survey , consumers are feeling twice as pessimistic about the economy as they’ve been throughout the pandemic. In response, many brands are evaluating what this change in consumer sentiment will mean for their business models, revenue and overall growth strategies. However, is planning for another Great Recession the best strategy based on history? According to historical economic data , if you only consider the post-World War II period, the average U.S. recession has only lasted about 10 months. With that in mind, brands that have sound business models should view tough times as an opportunity to come out stronger than before. One area I think all brands should be focused on in 2023 is customer retention. New customer acquisition often requires more capital investment and resources than getting an existing customer to make repeat purchases. One study found that loyal customers account […]
K&X Design and Investment Technology, LLC
Invest The Invisible Impact
K&X Design and Investment Technology, LLC
Invest The Invisible Impact
