Thursday, November 03, 2016

How well do business owners know their customers?

This is invaluable information generated annually by the US Labor Department (click here), a cabinet level office. 

This is invaluable because local economies can conduct their own studies as well. This is a Pew Research Study (click here) so it may be a skewed study for local economies. This general country wide studies are normally viewed as beneficial for Big Box stores. 

But, the study is worth looking at and perhaps hire a local statistician to conduct similar studies for the local economy. The really great thing about local economies is that shop owners and operators may very well know their customers and don't need such a study. Just think about it and consider whether or not even a one time study would benefit the businesses on Main Street and the side streets of a local economy.