Editorial

by Howard Shingle,
Carolyn Silberman

As we enter the last half of 1999 it's becoming ever clearer that not only the year, but the decade and the century are drawing to an end. Like everyone else, that leads us to looking ahead. We all have an interest in knowing what to expect in the years to come. There are as many predictions for life and business in 2000 and beyond as there are people making them. But there are some certainties-things we can count on not to change with the flip of a calendar page-that will remain constant as long as there are buyers and sellers. Here are a few of them: • The Internet, and particularly e-commerce, will continue to be a growing factor in how business is conducted. Experts say 183 million consumers will be making on-line purchases by 2003. Most of them will begin by using the Web to research products before they buy. By 2003 the market for these "researched products" sold on-line is expected to reach $56 billion. • Quality products always will be in demand. That goes not only for each individual product sold, but for each business as a whole. Part of every business' product line is its expertise and customer service before and after the sale. • Advertising pays. There is always a potential customer out there looking for a product or service you provide. But customers will never know you exist unless you tell them. An advertising program consistent with your market niche will draw target customers to you. • There always will be somebody willing to beat your price. Discounting prices may lead to higher volumes, but the gains are short-lived. Smart, successful businesses know what margins they need to make and set prices accordingly factoring in custom services consumers can't get elsewhere. • Your best customers will always be repeat customers and referrals. Each new customer should become a repeat customer, and each repeat customer should refer you to others. Striving for this type of customer loyalty ensures future business-next month, next year, next time they call you. • Strange things will continue to happen, some foreseeable others not. Arch-rival competitors will merge, national warehouse outlets will open small, local retail shops . . . whatever. The flexibility to handle twists of fate is a mark of a successful business. We hear time and time again from successful retailers around the country that there's plenty of business out there for everyone. That seems to be a constant, also. As long as there are homes with windows, there will be a market to be served. Those businesses committed to success will be around to serve it.

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