As we all read, listen, watch and try to anticipate how deep this financial/economic situation (I refuse to say "crisis") will go and what impact (both short and long term) it will have on our respective industries I continue to have a recurring thought: "Invest!” However, I'm not an investment expert and I'm not referring to purchasing stocks (although personally I think that's a great idea). No, as Director of Production Procurement for Jack Morton I have been on the phone with at least 100 suppliers over the last month and a half, managing multiple projects involving large amounts of 3rd party requirements and I definitely see a specific trend. There are tremendous opportunities to reduce overall costs for experiential marketing budgets. We've all seen the price of gasoline plummet from a high of $4 plus to under $2 in the last 2 months (a 50% reduction!) and retailers are slashing prices to move inventory during the holiday shopping season and there is a similar trend in terms of the 3rd Party suppliers we utilize.
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