Things are tough out there for many businesses right now, and they may be getting tougher. The “R word” is on everyone’s lips, although many are reluctant to speak it. Not the World Bank, though: It started 2023 with the dire prediction that a global recession is at hand.
It doesn’t matter whether you occupy a B2B, B2C, DTC, or any other business category. When consumers pull back on spending, companies are forced to do so as well. There’s a tendency to draw inward during hard times with the hope that you can simply ride them out.
Yet history has shown that the intrepid can not