All About the Customer
The timing is perfect in these next few weeks for all businesses to take heed of what the customer is bypassing on retail shelves this season. However, what may be even more important is to understand why consumers are returning many of these products. A truly tuned-in manufacturer will "hear" why products are being returned and use that information in developing new products. Especially when they hear that many of their products were "good ideas" but simply way too complex to use or understand.
Consumers today are not so interested in the "hot" deals based on a manufacturer's high inventory "dogs" as they were in the past. "Look honey, I was able to buy this combination hot dog cooker/bun warmer for only $11!" Today, they will purchase products that fit their lifestyle or offer a great value while no longer concerning themselves with a particular brand.
Manufacturers need to put an ear to the rail and listen to what is heading their way. And retailers would benefit both now and in the future if they stopped buying slow-moving merchandise.