Statistics have shown that MYER has performed poorly for the first half of the year. In fact, profits have plunged by almost 20%. Experts believe that this is because shoppers in areas like Dandenong are losing consumer confidence.
There are many reasons why Australians are no longer shopping as much as they used to do. Some of these are the increased cost of living, the high Australian dollar, employment issues and the negative flow of economic news from overseas. The fact that many products are now available online for low prices does not help stores like MYER.
However, it is important for stores to be aware that some consumers do have money to spend. The best way that offline retailers can attract these people to their store is through advertising and marketing. Stores like MYER could benefit from a Direct Mail campaign. The easiest way to set one up is to use printing services to make up Brochures. These brochures can then be sent to previous customers of the business. Some stores will opt to send the brochures to everyone regardless of whether or not they have frequented the store before. These campaigns tend to be less successful than targeted mail campaigns.
All businesses go through difficult times and this seems to be one of them. Statistics have stated that spending is down throughout Australia. Businesses that are experiencing a fall in sales have no option but to stick it out. Putting out consistent marketing campaigns will help boost sales until spending increases again.
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