Sunday, December 20, 2009

What do fake hamsters have in common with food sales?

I ran across this article today and thought it was worth sharing. It's about Toys 'R Us and their approach during the economic downturn. While they're certainly much different than ZMO in many ways, their CEO's take on managing during the downturn dovetailed with a lot of what I think is important.

The merchandise is what people want. If it's fun and interesting and good, people will buy it. Focus on that.

Don't get lured into fighting price battles. That's a zero sum game.

Innovate. Be exciting. Do things your customers don't expect. When things are bad, try to figure out how to give more service, not less.

Don't be dour and constantly tout "recession special" bunk. It's depressing. No one wants to buy anything from someone who's depressing.

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