Right about now, we could all use a crystal ball to determine the best the path through our current economic challenges. It is said, every downturn offers great opportunity. The other day, one of my manufacturers asked me to share the attached letter they received from a vendor explaining the challenges they are facing with regard to unexpected, and difficult to plan for, price increases from their supply sources. Truly, I was stunned to see how much greater the price of cotton has risen with respect to gold.
After reading the attached letter and researching further, I wrote a blog post, which you can view by using the following link.
http://carriefarmer.wordpress.com/2010/12/07/commodity-prices-increasing-cotton-soars/
Not only is cotton rising at an amazing rate, many other commodities are as well. It is reminding me of 2008, although I have no idea if we will see a rerun of that difficult time period, I do feel it is important to keep you abreast of important information my manufacturers are sharing with me. Customers will also need to understand the impact current events are having on what they can expect to pay for goods and services. My hope is you will be able to utilize this information and find ways to create opportunities for yourselves by possibly closing more sales quickly "before prices rise even more", or finding clever ways to market and promote your business by using catch phrases the media is splashing all over the news services, to show your customers you understand them and are on their side.
After reading the attached letter and researching further, I wrote a blog post, which you can view by using the following link.
http://carriefarmer.wordpress.com/2010/12/07/commodity-prices-increasing-cotton-soars/
Not only is cotton rising at an amazing rate, many other commodities are as well. It is reminding me of 2008, although I have no idea if we will see a rerun of that difficult time period, I do feel it is important to keep you abreast of important information my manufacturers are sharing with me. Customers will also need to understand the impact current events are having on what they can expect to pay for goods and services. My hope is you will be able to utilize this information and find ways to create opportunities for yourselves by possibly closing more sales quickly "before prices rise even more", or finding clever ways to market and promote your business by using catch phrases the media is splashing all over the news services, to show your customers you understand them and are on their side.
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