In any economic downturn there will be casualties, but although many companies fail, others thrive and strengthen their position.
History shows that companies who can invest and innovate during recession place themselves in prime position to be ahead of the game when the market begins to grow, as their competitors cut key budgets and even human resource.
The on-course retailer traditionally doesn't share the same peaks as his competitors when the market is booming but, more importantly, he doesn't share the same troughs.
An on-course pro still has members visiting his shop regularly, who will expect to see the latest products on display. So the pro must continue to inject new products into the business and still work within budget. The focus must be to buy little amounts of stock on a regular basis - little and often.
It is critical to continue to market to the discerning members with the message: ‘it's business as usual, your pro is still here to give you advice and service.'
Relationships are paramount during this time. How you cultivate and manage relationships with the two vital pieces of your business jigsaw is critical, and they are suppliers and customers.
At this time you need to be in constant contact with your ASMs. It is important for you to know what support there is in the way of local marketing budget or product support. From the consumers' perspective, this is the time when you have the advantage over other retailers. This is the time to work on changing buying habits and building closer relationships with the membership, which puts you in a very strong position when the market grows.a
Our industry is probably the last bastion of old fashioned relationship business, and if we nurture those long-term relationships now, we will all benefit in the long term.
