Retail

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Classic Move

by Cinda Baxter on October 1, 2008

in Retail, Vendors

There are vendors who read the tea leaves and discuss them. And there are vendors who read the tea leaves, then do something about them. I’m happy to report at least one vendor who falls squarely in the second category.

Classic Impressions is an embossed stationery line many of us recognize as “those nice guys who left that other big, frustrating company” (you know who you are). Steve and his crew decided to strike out on their own years ago, determined to create a business built on positive retailer relationships, quick turn around times, and great product. Suffice it to say they succeeded, on all counts.

Times are tough, and they know it. In spite of producing a line that doesn’t have huge margins, and in spite of rising fuel costs, they just lowered their shipping charges.

Yes, you read that right. Lowered. As in less money. And that’s in addition to their normal “no drop ship fees” policy.

If you’re a Classic Impressions account who hasn’t received the updated shipping chart, call them. If you’re not a Classic Impressions account, check them out. These are the good guys, folks. You’re missing the boat if you don’t carry them-—especially during a holiday season that’s bound to be as price conscious as this one.

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Pick your poison…then cash in

by Cinda Baxter on August 31, 2008

in Economy, Retail

Some of the best advice I’ve ever received came from my friend Al Fahden several years ago, as I was bemoaning the fact a (smarmy) discounter had relocated to a store across the street from mine. He reminded me that retailers make a choice to be one-—at most, two-—of three things: a price leader, a product leader, or a service leader. You can’t be all three at once. Just isn’t possible.

He was right. I opted for product and service, then kicked butt against the price princess less than 250 feet away. Sweet.

I’m reminded of that often, as retailers struggle with how to approach the flagging economy. Al’s advice stands true today-—pick one or two and go for it. Apparently, Virgin Atlantic’s CEO, Steve Ridgeway, is of the same ilk, believing that if you offer quality product and great service, customers will come.

Well folks, the proof is in the pudding…or the profit, as is the case here. VA’s annual revenue is up a whopping 38% among airline competitors that appear to be racing to the bottom of the pile as fast as they can, slashing everything but the toilet lids along the way (just wait…they’re next).

And to what does the wise Mr. Ridgeway attribute this growth? Instead of trying to make money by cutting out everything but the bare necessities, he reminds us:

…the winners will be those airlines that focus on offering the best customer service. We have … focused on providing the best product in Upper Class, Premium Economy and Economy….

Granted, it’s not as simple as “If you build it, they will come;” you still have to market the heck out of your product, then provide seriously great service. But pull that off and you’ve got a fighting chance at making some money.

And that, my friends, is true for retailers. Great product is vital, but more than that, service, service, service is the key. Customers are frustrated by the economy. By the election. By the stuff that just pulls them down. Give them a safe haven where they can hang out, laugh a bit, and feel like they’re the most important person in the room, and you’ve got a winner.

A little hospitality never meant more.

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Weddings Etc.

by Cinda Baxter on August 28, 2008

in Independent Retailers, Retail, Travel

If you’re in the Homewood neighborhood of Birmingham, Alabama, pop into Weddings Etc. on 18th Street. Owner Melissa Hill has created a smart, chic, retail boutique built on great product and even greater customer service. She knows her stuff, and is happy to share the wisdom. In my humble opinion, this is a retailer to watch, folks; she’s got big things ahead of her.

After you enjoy the store, take a stroll down to Zoe’s Kitchen for a glass of (addictive) limeaid made from fresh lime juice and cane sugar, with an order of chicken salad. You’ll think you’ve died and gone to heaven…

…until you bite into the requisite chocolate cake, at which you’ll realize heaven is located in Homewood.

You’ll thank me for this. Your bathroom scale, however…well…that’s your problem.

Photo: Melissa and her trusty manager, Meghan Ratliff

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REAs tonight

by Cinda Baxter on August 17, 2008

in GHTA REA Awards, New York, Retail

This is it…the big night. The Retailer Excellence Awards are at the Marriott Marquis this evening, during which the GHTA (Gift and Home Trade Association) will accept the coveted Industry Achievement award. As a member of the Board of Directors, my enthusiasm might be just a titsch high on the Bubbling Over scale.

This is the fifth time I’ve attended-—twice as an award recipient, once as an award presenter. Best part is the crowd, comprised of the smartest, most plugged-in folks in the gift industry. It never fails that by night’s end, my mind is wheeling with creative ideas, my pocket is full of new contacts, and my juices are flowing toward ways to further promote my consulting clients. Now tell me, what’s better than that?

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Back to the Big Apple

by Cinda Baxter on August 15, 2008

in Markets, New York, Retail

Seems my WorldPerks account is getting a lot of NYC activity lately. Just ten days after being there for the NSA conference, I’m headed back again for the NY International Gift Fair and REA celebration.

Already, there’s lots of shuffling about, with vendors wondering what traffic will be like, and retailers asking themselves if they can squeeze everything into a scant 72 hours. Rest assured to all who attend, although this show will likely be a quiet one, it’s not the end of the world…just means we’re doing things differently this time around.

Vendors, please be patient with the retailers who attend. They’re either at the end of the buying process, or are close to it. If they take notes instead of write orders in the booth, see it as a plus. That’s business rescheduled, not business lost.

Buyers, think carefully before you write. There’s never been a 4Q more unpredictable than this one. Take a peek at my earlier post (“Counting Coins”) about how to navigate the waters with smarts.

Those who think things through carefully-—then plan accordingly-—will come out on top. Those hung up on a glass half empty have already drilled a hole in the bottom for themselves.

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Great resource, great offer

by Cinda Baxter on August 14, 2008

in Retail, Sources

PrintMyStuff (aka: Century Marketing) just blasted a free freight special into my email box. Wanted to pass it along, since they’re a good vendor to have at your fingertips.

For years, we sourced a number of products from them, including clear labels printed in gold foil, rolls of stickers for our price guns, etc. They’re easy to work with, are competitive, and know the retail world inside out.

Given what freight’s costing these days, it’s a good time to stock up.

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I’m just sayin’….

by Cinda Baxter on August 10, 2008

in Buying, Economy, Retail

RetailSpeaks newsletter recipients have heard me hint at how 4Q will be built on tradition, home, and hearth. Well folks, don’t doubt it. This morning, Good Morning America did a piece about the surge in Christian themed product purchases. True, some of the stuff is kitsch-—as dearly as I hold my own faith, odds of a Jesus Christ bobble head doll landing on my shopping list are slimmer than none. Same goes for the Bible themed power bars (seriously…I couldn’t make this stuff up.) But make no mistake-—faith based gifts are on the uptick. Big time.

Don’t mistake this for an anomaly. As world, political, and economic jitters continue to encroach on their lives, consumers continue to pull back to a safer, saner, quieter time…and that’s childhood. To adapt, retailers need to embrace what I call “Mashed Potato Marketing,” built on documented human behavioral patterns rife with comfort food, tradition, and “all things home.”

For the full write up and buying advice, visit the RetailSpeaks newsletter archive (specifically the June/July issue).

Retailers who figure this out and buy accordingly will hold their own-—or better yet, do really well this holiday season. Those who buy like it’s 1999, though…good luck. This isn’t the year to bet on edgy trends or hipster brown and blue. It’s gonna be all about Christmas, Christ, and that guy in the funny red sleigh.

Now…pass the homemade ostkaka and a spoon, please?

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10 Things No Retailer Should Be Without

by Cinda Baxter on July 28, 2008

in Retail, Success

10. Emergency copies
The following items should be kept off-site, in a secure, locked, fireproof location: all passwords, PIN numbers, bank information, xerox copies of the front and back of your store credit cards, an extra set of keys, and computer logins. Don’t forget to add contact info for the landlord, alarm company, insurance company, and store manager or key employee. If you’re hit by a bus, a loved one or trusted employee can get to the information necessary to keep your doors open ‘til you’re up on your feet again.

9. A corded telephone
It’s inevitable. The power will, on occasion, go out. Whether weather, nearby construction, or just plain line failure, it’s good to know you can still answer the phone when a customer calls.

8. A manual credit card ratchet and carbon slips
Yup. The kind you (or your folks) grew up with. That same pesky power failure cuts off credit card transactions immediately. Old school ratchets allow you to take the card, then call it in for approval (now, if you also have a corded phone).

7. An extra pack of printer/fax paper
Stash this out of sight so no one uses it then forgets to tell you…until it’s gone and you’re waiting for an important fax.

6. An extra set of critical ink cartridges
Fax, credit card machine, and your main desktop printer. Stash them with the extra pack of printer/fax paper to be safe. Keep an eye on any by HP, though, since they have expiration dates that make them non-functional (been there, done that…not a pretty sight).

5. A bottle of decent champagne and glass flutes (not plastic)
Bonus points go to retailers who have bubbly on hand when their best customer comes in to announce they’re engaged, a new grandparent, bought their first house, or celebrating some other major milestone. Maybe the good news will be a winning lotto ticket and they’ll share.

4. Quick fix
Advil, Pepcid AC (fast antacid), BandAids, Listerine strips, and eye drops are invaluable. Think: 60-second “saves” for whatever ails ya. Put extra Listerine strips behind the counter so employees can sneak one when retrieving an “accidentally” dropped pen or pencil in a pinch.

3. A stash of Power Bars and bottled water
That headache might be more about dehydration and hunger than Mrs. Nastypants and her nitpicking. Or not. Add an M&M dispenser and you’re golden (chocolate cures all ills).

2. An accountant and an attorney with retail experience
Ours is a business that follows some pretty unique rules. Make sure your numbers guy and legal eagle know those rules first hand.

1. A trusted industry mentor
My first was a consultant named Laurie. Later, it was a fellow retailer named Judy. Over time, it became a small group of trusted friends in the industry who emailed daily. Find yours. Ask questions. Listen. Repeat.

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