Morbiz Predicts Consumers Will Continue To Support Small Businesses If They Are Transparent

By Author: Jay Gilbert
Total Articles: 1
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As prices for everything from milk to gas skyrocket, there is some good news for small business owners; surveys show that 70 percent of consumers plan to continue supporting their favorite local companies amid record inflation. While the silver lining may be thin, it is certainly an important statistic, especially as we crawl out of the devastating pandemic era. The sad reality is that many communities lost mom and pop shops of every industry in the last two years, so it’s vital that we band together to keep those that did survive afloat during the current economic crisis.

While businesses and consumers alike face rising prices, many business owners also find themselves dealing with supply chain issues and labor shortages across virtually every sector. While these issues are slowly on the mend, the truth is that prices are high and will likely remain high for quite some time. If you run a small business, it may be a difficult decision to hike up costs, but it's likely a must to survive. When the time comes to do so, many consumers are asking for just one thing: be transparent.

Since raising prices is nearly inevitable, ...
... it is important to be upfront with your customers about doing such. It can be a shock to many when they return to a business for a product or service and are charged a higher cost than they’re used to without any warning. In fact, surveys show that 90 percent of consumers say that simply being honest about rising prices will keep them coming through the door or ordering online.

How can you let your customers know about inflated prices? Use all your channels. Add pricing information to your website, write a blog, share social media posts and put up signage in your business that lets people know that prices are on the rise. Your honesty will prevent sticker shock from setting in when the bill comes, in turn keeping your customers happy and ensuring they return to you time and time again.

It has never been more important to support small businesses. At MORBiZ, we’ve made it our mission to help them thrive by enhancing their online reputation and building out beautiful, responsive websites. If you’d like to learn more about the services provided by our professional web marketers, please call us at 855-266-7249 or use our online contact form. Our team loves being able to help small businesses thrive and we’ll do everything we can to support yours.

For more information visit https://www.morbiz.com/web-contact-form