In periods of economic prosperity, business often forget that rising sales aren’t caused by good marketing and appealing products or services alone. What else drives those sales?
Purchases depend on consumers’ having disposable income, feeling confident about their future, trusting in business and the economy, and embracing lifestyles and values that encourage consumption. In a recession, all those things can dissipate quickly. Do you have a risk management strategy that allows you to adjust to that new reality?