IN times of recession, it is businesses with the wrong or flaky business model that will be the first to encounter problems. One such example is the perfume shops if they rely on a good proportion of UK customers. The price difference is now overwhelming to UK customers. I went to purchase my wife's favourite perfume which was priced at 91 Euros. The high street price in the UK is 62 Pounds, or 46 Pounds if I used EBAY. How can perfume shops entice UK customers to buy their products at such an inflated price that the weak Pound has caused? This price anomaly is by no means confined to the perfume shops, so any business targeting UK customers would be advised to review their business model and align it with the current financial environment. Reviewing soft skills are free e.g. (for Bars) The welcome you give to arriving customers. The entertainment you provide does it really suit your typical customers' age range or do you simply take some easy option? Ask, would YOU drink your house wine or do you just buy the cheapest possible regardless of poor quality? Is your menu too extensive you may be selling 90 percent of your meals from 20 percent of the menu, so why not reduce the menu size and aim to be excellent at what actually makes you money?
I firmly believe it is businesses who can adapt and aim to have the best reputation, quality and reasonable pricing that will fair best and see out the current recession.
Mark Masters,
Andratx, Via
Roma 15, 07150