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Is Your Business Exploiting Technology?

As we get into 2013, it is worth briefly reviewing the results of the recent Christmas consumer spend; firstly to see if it will give us any indication of whether we can avoid the dreaded triple dip recession but also in terms of identifying customer behaviour.

The results from the high street giants do provide generally positive reading. According to an article in the Guardian, Debenhams, Next but particularly House of Fraser and John Lewis reported encouraging growth figures. John Lewis reported like-for-like sales rising by 13%. However Morrisons reported 2.5% drop over the festive period.

As we await other results to come in it is encouraging to see that there was some consumer spend has seemingly increased. Consumer confidence was a major contributor to the economy during the boom years.

From the 12 and 20 December 2012, the Institute of Directors conducted a poll of 1,369 members. The executive summary of the survey was:

“2012 was a tough year, but business leaders expect 2013 to be much better. The risk of a return to recession and a triple dip has not gone away, but it is receding fast, and expectations of growth are rising.”

What can we learn of customer behaviour? A number of the stores made significant price reductions to specific product ranges prior to the holidays. However it was the online sales that made the difference. House of Fraser said their online sales were up 50% and is a conduit for £1 out of every £4 spent with the store.

In part Morrisons attributed their disappointing results to affluent customers going online for home grocery deliveries. Morrisons currently has no website for home delivery of food.

The need for having a sensible online strategy is coupled with the fact 2012 was a computer “tablet Christmas” with sales at PC World and Currys already up 1,000% year on year. In fact a spokesman for Dixons reported that a tablet was sold every 2 seconds in the run up to Christmas.

How does this affect you? Even if you are not in the retail sector, business commentators are suggesting that Tablet computers have a good business application; they will contribute to the evolution of the way we do business.

Are you harnessing the potential of the technology around you? Do you incorporate effective e-commerce solutions into your overall business strategy? Do you know the best way to communicate with your clients and prospects?

During these straightened economic times there is a defined need to think fast, look at market trends and be ahead of the curve. It is not a case of doing what you have always done and getting the same results. Obsolescence is a real danger.

If you would appreciate a conversation with us to see how we can potentially help you with your strategic planning please call us or contact us via our website, Twitter accounts @Gary4Biz @Glyn4Biz @Stephen4Biz or LinkedIn profiles Gary Maskell Glyn Moore Stephen Elliott or Facebook

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