Success only runs one direction....
Click the image above to download the flyer
As you’re headed off to a gift show this next couple of months, think about this….
Those of us connected to the gift industry are privy to a lot of people’s celebrations—birthdays and bar mitzvahs, holidays and housewarmings. Pretty cool gig. You sell gifts. They give gifts. Voila!
Well, here’s your chance to give something special too…and it won’t cost you one penny more than you’re going to spend anyway. [click here to continue…]
{ 0 comments }
This morning, during a phone interview with a midwest newspaper, I was asked a question no one’s posed for a while: What are the most important things a retailer needs to become a success?
As odd as it may sound, it’s not a good accountant or a fabulous POS system (although those things rank extremely high on the list). In my mind, the two most important things are more basic. [click here to continue…]
{ 4 comments }
Here’s an example of when doing business can do even greater good. Are you a vendor, rep, or showroom principal who doesn’t want to be left off the Good Guys list? Check out Change for Life (your competitors already have).
And retailers, you can get in on the positive buzz too…and it won’t cost you a dime.
{ 1 comment }
If you’re a retailer, the headline alone was all you needed to sit up and pay attention. There’s no greater frustration (well, maybe a small few greater frustrations) than sorting through your monthly merchant account statement, then realizing just how much all those nickle and dime fees add up to each month. Even more unnerving are the fees attached to debit cards—a financial tool that doesn’t even require credit extension (read: risk) on the part of banks, since if the money’s there, the transaction goes through. If it’s not, well, according to the new credit card rules, no go, Joe.
Rather than reiterate what’s been written elsewhere, here’s a link to an article that ran on the Home Accents Today website (thanks, Wes Kennedy, for the tip via Twitter). Read up, the grab a pen and write your Senator. This is one of those times retailers’ voices need to be heard, loud and clear.
{ 2 comments }
Now that we’ve all begun spinning like whirling dervishes over the absurdity of vendors allowing massive debt to accumulate with Swoozies, the fallout is beginning to take shape. Here’s the scorecard thus far; if you have additions (and can back them up with a vendor email, website, or confirmable third party source), please post them in the Comments section.
1. Mud Pie $ 865,852.71
> Raised cash by selling minority portion of company to equity firm Lineage Capital (article here)
2. Design Design 352,268.51
> According to company president, Don Kallil, the company is able to absorb the loss (see his 4/22/10 comment posted here)
3. FedEx 300,290.65
4. Heart Strings 283,440.40
5. Creative Containers 234,283.84
6. Crane & Co. 227,856.38
7. Innovative Packaging 206,337.20
8. Inviting Company 204,394.85
9. Patience Brewster 197,051.94
10. Peking Handicraft 197,051.94
11. Dennis East International 173,123.53
12. Cross-My-Heart-Cards 160,787.86
> Has gone out of business due to Swoozie’s losses, as explained in 4/7/10 email to retail accounts
> UPDATE 5.12.10: Roseanne Beck Collections will have three booths at NSS…?
13. Oh Sugar! 147,504.44
14. William Arthur 129,746.20
15. Lifeguard Press 123,029.54
16. Hilco Real Estate 115,067.17 (Lease, Northbrook IL)
17. AmEx 113,743.05
18. MS. Dee / Molly ‘n Me 111,236.76
19. Print Appeal 109,019.93
20. Berman Enterprises 103,772.98 (Lease, Rockville MD)
21. Caspari 101,766.79
22. San Lori Designs 98,955.98
23. Natural Life 89,184.62
24. Lady Jane Ltd. 81,023.02
25. Morgan & Company 80,768.60
26. Recycled Paper Greetings 73,871.05
27. Opus Real Estate 67,820.16
28. Room It Up (Prime Source) 62,950.45
29. Cov II DDR Trademark 62,950.45 (Lease, Dallas TX)
30. Anna Griffin Invitations 62,451.89
31. ShopperTrak RCT Corp. 61,442.12 (Mall traffic analysis group)
32. Tri Coastal Design 58,679.67
33. The Orb Factory Ltd. 58,673.17
34. New Dimensions 56,815.36
35. Hog Wild 56,384.00
36. American Greetings 55,953.85
37. Long Grove Confectionery 53,082.11
38. Melissa & Doug LLC 51,692.83
39. B*Posh 49,025.08
{ 3 comments }
At the request of a whole heck of a lot of retailers, here’s the bar tab Swoozie’s rang up before filing bankruptcy (as listed in public court records, confirmed here):
Top Unsecured Swoozie’s Creditors
1. Mud Pie $ 865,852.71
2. Design Design 352,268.51
3. FedEx 300,290.65
4. Heart Strings 283,440.40
5. Creative Containers 234,283.84
6. Crane & Co. 227,856.38
7. Innovative Packaging 206,337.20
8. Inviting Company 204,394.85
9. Patience Brewster 197,051.94
10. Peking Handicraft 197,051.94 [click here to continue…]
{ 16 comments }
Now that the Swoozie’s bankruptcy news has been out for a while, I’m wondering…are customers who pre-paid special orders getting refunds (or, more shockingly, their orders)? Stores were promising to do the right thing, but I haven’t heard how “the right thing” is actually playing out.
Also, if a customer gets a refund, is it being issued to their credit card (assuming that was the original form of payment) or is Swoozie’s saying they’ll mail a check? If the latter, well….what are the odds it won’t bounce? [click here to continue…]
{ 4 comments }
Remember those halcyon days of free flowing cash? That’s when the debit card was born—branded with a major credit card logo, it allowed consumers to pay for purchases without a paper check or relying on extended credit. If the money was in their checking account, the purchase was approved. If funds were insufficient, the card declined. For retailers, accepting debit cards was safer than accepting checks, a form of payment that wouldn’t show up as a “bounce” until long after the customer had left the store with their merchandise. [click here to continue…]
{ 0 comments }
