Putting Time on Your Side

Time slows for no business What time is it? Teenagers and young adults quickly locate this answer on their cellphones, Ipods, laptops, and other portable devices. So why should they wear a watch?

The young market believes they have no use for a product that only tells time. The Donegar Group, which tracks fashion merchandising, reports that this one-dimensional focus has caused watch sales in 2004 to decrease by more than 10 percent.

But watch manufacturers aren’t set on winding down. According to the January 18th edition of The Wall Street Journal, watchmakers are adding compasses, thermometers, and ear buds to new models.

Guess Inc. created a charm bracelet with a watch piece as one of the charms, and Fossil will introduce a watch with customizable faces and straps.

Solo and small business owners know all too well about the need to quickly adapt to clients’ moods, tastes, and needs. We must continue to identify and predict changes, which is done in several ways.

1. Connect with customers on a social level to learn about how they use what we sell and collect ideas to upgrade it for future use.
2. Visit industry trade shows to see new concepts to integrate into our current offerings.
3. Read a variety of consumer and business publications from around the world to stay updated on the trends that impact sales.

Marketing information is plentiful. Be sure to act on it, putting the information to use as swiftly and accurately as a precision time piece.

Technorati Tags: watch sales, watch manufacturers, The Wall Street Journal, Guess Inc., watch piece, small business owner, trade shows, marketing, solo business owner

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January 30, 2006 | Filed Under Marketing News, Offline Ideas, Recent Entries

Comments

2 Responses to “Putting Time on Your Side”

Flora Morris Brown on February 2nd, 2006 4:45 pm

Keeping up with what’s going on in your clients’ industries is another reason to read the newspaper and business publications. Even though you may learn about trends before they trickle down to your area, it keeps you a step ahead so you can plan inventory and promotions.
Shirley George Frazier on February 2nd, 2006 5:03 pm

The type of market planning you mention is critical to meet the needs of customers and keep them loyal to your brand.

I always make time to read specialty store and state-specific publications, as they tell me what direction the business winds are blowing.

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