Who Says You Can’t Sell More

We’re in a recession - there’s no way you grow your business by selling high end products to consumers, right?

Last night my daughter and I went to Michaels craft store. We always enjoy looking through the different departments and finding interesting crafts to do for a very low cost. But something was different this time.

Instead of their normal dollar bins in the front section, they were replacing them with shelves of Martha Stewart Crafts. If you’ve ever priced Martha Stewart Crafts, you know they are anything but inexpensive (relative to other craft supplies).

So in this time of cutting back, why is Michaels investing in such a high end craft product?

Even in times of cutting back, savings, or recession, people still like high quality products. And instead of investing in vacations or high priced ticket items, many are choosing to remain close to home, and having fun with things in their area.

So why not spend some money and create a high quality scrapbook of last years vacation?

Keep these 3 things in mind through the rest of 2008:

1. You don’t have to lower your prices to sell more. Sometimes you may even benefit from raising your prices - and finding the perfect niche to sell to.

2. How can you work with other complementary businesses to sell more products? Martha Stewart does this well, and is always connecting up with great companies to market her products through.

3. Don’t look at the market as a whole and concentrate on what your peers are saying. Focus on what you know best, and develop your own customer base that loves what you do. There’s always someone in every spectrum of the market - do what you do best and your target market will follow.