Answer:
The owner could advertise a sale and try to sell as many pairs of shoes as possible before the recession comes and prices fall even more. Then, when the recession hits a trough, the owner could use the money from this sale to expand the warehouse while costs are at their lowest point. The owner must be sure to plan for falling demand.
Explanation:
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A recession is defined as the downward trend in the business cycle, which is characterized by a fall in employment and production. The store owner should focus on competencies, advertising, and investing.
The recession is the phase in which a business experiences a downfall and a lack of employment opportunities.
The store owner should follow some steps to revive the business in recession as:
1. Focus on core competencies, such that the seller should sell the core product or service.
2. Marketing is an essential factor in a recession, such that the store owner should provide content-rich emails, compel the audience, and advertise more.
3. Protecting the cash flow is also necessary during the recession. They cut back on unnecessary spending, renegotiated vendor agreements, and arranged financial assistance.
Therefore, during the recession, the store owner can invest, protect cash flow, and advertising.
To know more about business and recession, refer to the following link:
https://brainly.com/question/23785914
