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Retail and Service Business Therapy

Question: Who’s happier? The woman who bought a handbag or the woman who went on vacation?

Answer: If someone has to choose between a thing and an activity these days, the latter seems to be winning-out! Not only are “experience” businesses (like resorts, spas, etc.) seeing an uptick over retail businesses, people who spend on real-life memory-making are happier than those who buy materials goods, according to this scientific study.

What Should You Do? Make sure every customer touchpoint with your business is pleasant and memorable. Your marketing materials should “romance” the experience consumers will have when they come to your place of business (e.g., responsive service, special treatment, etc.). Thank customers often and reward those who write positive reviews.

NOTE: If you’re in a service business, remember that appointment-setting or scheduling a consultation is the first customer interaction after he or she visits your website. Make sure it’s super-easy too.