Research products before investing
I don’t think anyone can refute the fact that consumers are getting smarter and smarter every day. Especially with the proliferation of smart phone and tablet technology, consumers can find reviews, compare prices, scan bar codes, and contact friends all at the store without even asking for assistance. Some could even argue that consumers now know more about a store’s products even better than their own employees.
Because consumers are becoming smarter with their purchases, spending habits are also being changed.
Let’s take the tablet market as an example.
Here is a nice infographic that shows that tablet competition is heating up and the threat of product substitution is increasing. Could the upcoming iPad2 have enough features to trump the competition and keep revenues going for Apple? Or will this be the year of Android? Is Blackberry‘s offering even competitive?