Places and the Products Being Sold

Our group project has made me think about how important it is to sell the right product, at the right price, in the right place. Where I live in Wolfeboro, NH everyone assumes those who live there are wealthy and or on vacation. The stores in our downtown consist of fast food restaurants or fancy restaurants and souvenir shops. Everything is over priced and there are no necessities. The downtown is geared for tourists. I could not tell you where to buy a pair of socks in my town, which makes it is very inconvenient. I understand our population triples in the summer so the town caters to those visiting where there is room for a large profit to be made, but in the winter you would think prices would drop and or more useful items would restock the Lake Winnipesaukee T-Shirts that no one who lives in Wolfeboro would actually wear. There is nothing I would purchase in my town unless it was a gift for someone. 

In the past few years the economy has not been as strong and it shows because there is less traffic in town during summer compared to later years. So one can assume the businesses are not doing as well because there isn’t the same volume of people coming into their stores. I would think the businesses would start to swap out some of their inventory for the locals who are always there and looking to save on gas money when they just need to pick up a few things. (Closest stores are about an hour away.) 

Do you think the businesses would be more profitable if they change their prices and or products? Do you think it is good for a town to only rely on tourists to earn profit? Do you think the businesses have to comply with an all or nothing change?