Customer loyalty.. do you practice??
This is an often heard lament these days from retailers in our area. The question stems from the rural retail experience for the past 150 years or so and the significant change in customer behavior over the last five years. One of the foundations of the rural community was loyalty—loyalty to your family, your neighbor, your community—including loyalty to local retailers and service businesses. When you looked for a product or service, you looked to your local businesses. Your loyalty was rewarded by a high level of service including an inventory based on your past needs, a willingness to order in special products, fair pricing and extended credit terms if necessary. It worked well for 150 years, but things have changed. There are many pressures that have changed purchasing patterns, and to name just a few: 1. The focus on price rather than on value 2. The pressure to provide immediate gratification (ie. Customer wants it now—unwilling to wait) 3. Willingness of t...