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Businesses Adapt to Arizona’s Challenging Economy

September 26, 2012

By Caren Solberg

Arizona’s unemployment rate stands above 8%, which translates into well over 200,000 people looking for jobs. Consumers are tightening their spending either due to a lack of money or for fear of losing their jobs, which means easy sales opportunities are less common. In this environment, businesses are struggling and even closing. For instance, Guitars Etc., a small business that had been selling guitars in the Tucson area for nearly 10 years, recently closed after business shrunk by nearly 40%.

How do businesses make their sales targets in a crowded and challenging market? Companies are taking measures to readjust their sales expectations and supply. Cattle ranchers have been reducing beef production in Arizona to bring their practice in line with the diminishing market for cattle. Other companies are adjusting their sales strategies and trying to make up for underperforming in one market by pushing into another. The Solon Corporation based in Tucson specializes in solar power plants, but recently its strategy has emphasized growing outside of Arizona and the establishment of an overall national presence. The move may help protect the company from the vicissitudes of individual markets.

About Caren Solberg:

Caren Solberg has decades of sales experience in the Arizona market. Solberg has served W. L. Gore & Associates since 2007.

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