By Hailey Dougherty
The past decade has given the retail market some serious struggles, the economy is still nursing itself back to a healthy state. Wisconsin took one of the biggest hits from the recession, with the largest loss of the middle class. This shift has helped to push the necessity of two-income families. “Today’s America is made up of dual-earning households and suburban and rural residents with long commutes, so there are fewer local daytime shoppers.“ (1) Businesses in Wisconsin are coming up with some simple, but effective ways to pull in a busier market. Nearing the top of the list is offering a new level of convenience. But what does that mean to local families?
With both parents more likely than ever to be in the workforce, the regular nine-to-five business schedule just doesn’t cut it anymore. When you really think about it, the work schedule was designed for mothers who were at home during the day to maintain the household and make purchases. They would get the things that the family needed during the day and were back home before shops closed their doors for the night. This isn’t the case anymore, and Wisconsin businesses are taking note.
“A recent Destination Marketing International report reveals that 70 percent of all consumer spending is done after 6 p.m. Many small town businesses have been slow to adapt to this trend, thereby missing out on a critical window to capture a key segment of the local market. “ (1) The Keystone Grill in Cambridge,Wisconsin was one of the first local businesses to extend their hours and at first, people were skeptical. They added some fun activities and good deals and soon they’d developed a following on Tuesday nights. Several other Cambridge businesses have followed suit. The combination of convenient hours, and entertainment is attractive to modern families. So put this to work for your business. Can you extend hours, even a coupledays a week? Consider the benefits of being the only business within your market to be open when mostadults are getting done with work. Post new hours on search engines and be the only business to come upduring ‘open now’ searches. With time, it could be well worth the investment.
SOURCES:
(1)http://www.preservationnation.org/main-street/main-street-news/story-of-the-week/2012/120821retailtips/key-trends-for-retail-success.html
(Secondary, supporting info)http://www.preservationnation.org/main-street/main-street-news/story-of-the-week/2012/120821retailtips/key-trends-for-retail-success.html
