Wallet pressure waits for no store. Walmart is feeling the squeeze.
The Bentonville, Arkansas-based retailer said heightened petrol prices are to blame for the slowdown in spending.
“When fuel prices increase and get above $4, perhaps there’s a psychological impact to that … consumers are making trade-offs,” CFO John David Rainey said on a call with analysts on Thursday.
As consumers spend less, each potential purchase needs to work harder to close the sale.
Q4 is looming
Ways To Think About AI: Listen to Benedict Evans Think About It
I find Benedict Evans typically has a measured view on things and he has the history to back it up from his telecom analyst days.
What are you actually selling?
Every market has a low cost provider. They’re selling savings.
For everyone else, what else is being sold that fills the price gap?
A price is a story.
Are you telling the one you think you are?
Are You Smarter Than Your Customers?
Brands are acts of co-creation.
& brands are built upon and defined by what they sell.
a “product” or a “service” is defined by the customer, not by the producer.
It needs to work continuously on challenging itself in respect to the utility and value that its products or services contribute to customers.
As the old saw goes, the customer is always right.
The greatest danger…is to “know better” than the customer
what the product or service is or should be, how it should be bought, and what it should be used for.
The act of shopping is the seeking of transformation, but one of their choosing. Not one that is defined for them (that is for doctors and advisors).
Businesses are not paid to reform customers. They are paid to satisfy customers.
The real work is not in finding customers. It’s in embracing the customers that find you.
via The Daily Drucker by Peter F. Drucker 📚
Never underestimate the value of showing up.
Tech may be the medium of most interactions, but we still believe there are people behind (most) brands.
People who care show up.