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Inspiration

Help merchant pivot when times get tough

eriods of economic uncertainty often reveal schools, food banks or youth sports teams. Cus-
which businesses are merely processing trans- tomers often remember businesses that stay visibly
actions and which are truly connected to the engaged during difficult periods.
P people they serve. For you, as ISOs, merchant
level salespeople and other payments professionals, that • Restaurants: Restaurants, boutiques and service
distinction matters. Merchants facing rising costs, chang- providers can also pivot by emphasizing con-
ing consumer habits or anxious customers may not need venience and value. Buy online, pick up in store
lofty advice as much as practical, creative ideas that help options, subscription services, local delivery part-
them adapt while strengthening customer loyalty. nerships and personalized loyalty programs may
help maintain customer relationships even when
Following are ideas on how different types of businesses discretionary spending tightens.
can pivot with the times:
These moments create opportunities for you to move be-
• Petroleum retailers: Consider petroleum retail- yond rates and hardware conversations. Merchants may
ers during periods of higher gas prices. Customers benefit from brainstorming sessions about customer en-
pulling up to the pump may already feel stressed gagement, loyalty strategies, digital tools or partnership
before they walk inside. A retailer that connects opportunities within their communities. Sometimes per-
fuel purchases to convenience store discounts, spective is the most valuable service you offer.
loyalty rewards or bundled offers can soften that
frustration while encouraging additional spend- Economic conditions will always shift. Consumer confi-
ing. Even simple promotions—discounted coffee dence will rise and fall. Businesses that remain flexible,
with a fill-up, points toward groceries or commu- attentive and community-minded often emerge stronger
nity business partnerships—can create goodwill in because they continue finding ways to solve problems for
a tense environment. the people standing right in front of them.
• Grocery stores: Grocery stores face different pres-
sures. Consumers watching every dollar may be-
come more selective and cautious. Merchants who
spotlight affordable meal ideas, expand weekly
specials or create flexible digital coupon programs
can position themselves as allies rather than just
sellers. Some may even strengthen ties with shop- Kate Gillespie, President and CEO
pers through community fundraisers tied to local

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