Keep customers satisfied - or lose them altogether

SKIM the consumer news pages in any given week of late and it would be more than apparent that it's pretty tough-going for many businesses out there, whether disrupted or not.

"Premium jeans are dead, killed by US$100 leggings", goes a recent Washington Post headline for a story about the decline of the designer jeans market amid the rise of athleisure wear. Early this month, True Religion - which a decade ago commanded hundreds of dollars a pair for its cult status jeans - filed for bankruptcy protection after years of falling sales and said it will be closing stores across the country. The denim brand, which had annual revenue of US$490 million in 2013, is but the 23rd US retailer or consumer-oriented company to seek bankruptcy protection this year, according to data by S&P Global Market Intelligence.

In the car market, Detroit carmakers are cutting production of sedans, or abandoning the segment altogether, taking the cue from drivers, and shifting focus to SUVs, crossovers and pickup trucks. In response, Honda Motor is banking on a remodelled (bigger and sportier) Accord to buck the sedan trend and seize market share as well from its Japanese rivals.