Coming into the new year, a lot of predictions are being made about the year ahead. Many of those predictions are about consumer spending and the cost of goods and services. In a recent article on dealnews.com, they highlighted the “11 Things That Will Be Cheaper in 2013”. The list includes:
- Streaming Video
- Microsoft Surface RT (a tablet)
- 60" LCD HDTVs
- Solar Costs
- AMD Laptops
- eBook Pricing
- Shopping from Your Smartphone
- Hard Drives
- Gas Prices
This list allows us to make some assumptions about how your customers will be shopping and spending in 2013. As the cost of Smartphones and shopping via Smartphones goes down, more and more consumers will be using them to make purchases. Is your company’s website mobile ready? Do you sell products online?
One of the things set to rise in price for 2013 is the cost of shipping. If this deters you even further from offering mobile/online sales, consider offering customers the ability to purchase online with in-store pickup. If you aren’t selling products online, at least make sure your website is Smartphone-friendly. If you are able to offer a wealth of product information and attract customers to your business through your website, they might choose your brick-and-mortar dealership over another that offers online/mobile shopping.
According to the article, Oil analysts at Deutsche Bank are predicting that oil prices will drop from $100 to $70 per barrel in the coming year. This translates to lower prices at the pump. This could mean more business from both homeowner and commercial customers. As homeowners save on the general cost of gas, they will have more expendable income. Your commercial customers will see great savings with reduced fuel cost and could also be more inclined to buy equipment in 2013.
Keep an eye out for articles and news on consumer spending and trends in pricing. Remember that your business is effected by many other areas of consumerism. What other conclusions have you made from the list above? Share in the comments section below.