These are interesting times to be sure. While some are claiming that there is little relation between what is happening on Wall Street to what is happening on Main Street, there is little doubt that retailers have a lot to worry about.

Want an example of how things trickle down through the economy? Consider my children’s lemonade stand they used to set up in our business park. Last year, they minted money. This year, they never opened. Why? On most days, our building’s parking lot is the only one that has cars in it; the other businesses are down to only a few days a week or out of business completely. Granted, we are in a small business park and most businesses here are related to the construction industry. But it is still a bit sobering.

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“Wanna buy a car?

I got great cars for sale!

I’ve got the cheapest cars. I got the best deals in town! You won’t get better!”

What is wrong with this picture?

This is how sales used to work. The salesperson worked to a script. The complex desires and concerns of the customer mattered a whole lot less than the need to push a generic solution. There is little in the way of relationship development or needs assessment.

Fast forward to 2008, and we live in a very different world. Due to rich, deep product and services markets, the customer has near infinite choice and options. The power has shifted to the consumer, albeit the downside is often confusion and inaction. This is why it is important to listen.

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