Tough Love
Like parents who declare, "I yell because I care," complaining customers should be treasured as among your most loyal and caring patrons. Cincinnati, OH-based Burke Customer Satisfaction Association says, "If you're satisfied with a store, you're more likely to complain when something goes wrong." Even after incidents that displease them, grousers usually remain loyal rather than bailing out for another store.
So When Is Hump Day
The traditional work week isn't any more. Fewer than a third of U.S. workers are on a Monday-through-Friday workweek, and even fewer are working traditional hours. The need to cover business 24-hours a day, seven days a week often is cited as the reason for the nontraditional schedules.
Remodeling Business Brisk
The home improvement business is alive and well as home market value appreciation has stabilized, according to the Kiplinger Letter. As a result, home owners are staying put and fixing up, and business reportedly is brisk for home remodeling firms mainly working on kitchens and bedrooms.
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Profits Found in High-end Markets
Shoppers' renewed interest in fashion is said to be one reason
profits for up-scale, high-end retailers are outpacing those in sharply competitive low-end markets. Dillard Department Stores reported profits surged 17 percent for the quarter ending May 4, 1996, and Neiman Marcus posted a revenue gain of 14 percent for its latest quarter. In contrast, Wal-Mart's operating profit rose six percent and its net income rose only 3.3 percent.
Only in America
Would your business survive if two percent of the products you sold each day failed after installation? How about if 30 percent of your customers canceled their orders or switched to your competitors? It would survive -- in fact, thrive -- if you were in the cellular telephone business. The 12-year-old cell phone industry boasts 36 million subscribers making 50 million calls a day despite cutting off one million calls a day and the high customer turnover rate.
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