Small Business Tip of the Day: Hey, Big Spender -
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Small Business Tip of the Day: Hey, Big Spender
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With household incomes reaching a record high in the first quarter of 2013 and consumer debt-to-income ratios the lowest that they’ve been in 33 years, consumers may well be ready to get out there and spend on big-ticket items again. Add to that, a new statistic showing the country’s richest 1 percent seem to just be getting richer–with their share of total income reaching 19.3 percent of all income earned. Of course, not everyone can be the 1 percent (which is why they are the 1 percent) but as overall households feel some debt relief, the desire to spend again could be making a comeback. Reach out to customers with messages emphasizing your products’ value or tapping into their urge to splurge, and you could see sales soar.

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Rieva Lesonsky

Rieva Lesonsky is CEO of GrowBiz Media, a media and custom content company focusing on small business and entrepreneurship. Email Rieva at, follow her on Google+ and, and visit her website,, to get the scoop on business trends and sign up for Rieva’s free TrendCast reports.


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