Useful Tips & Info

Understanding your customer spending

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The latest data by McKinsey & Company shows that Kiwis still feel the economic effects of the pandemic and are cautious about spending, despite retail spending bouncing back sharply when the country got out of lockdown.

Acknowledging the general cost-consciousness, at BGS, we’ve advised our clients to repackage their products to make it easier for customers to purchase. At the moment, people are still hesitant to commit long-term so instead of offering month-long subscriptions, repackage your product for one-off offers – this is one example of using available data to shape your marketing strategy.

As smaller businesses, tracking your targets’ behaviour and sentiments is critical – those that can adapt will thrive in this quickly-changing market.

keat ngUnderstanding your customer spending

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