Success only runs one direction....
It’s no shock to retailers paying vendor invoices with AmEx cards that the company is suddenly pulling back the reins on available credit. I know of several storefronts who have had their credit cut back-—or worse, cut off-—in spite of good payment history.
Well, get set. The consumer side is about to heat up. [click here to continue…]
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I‘m a big fan of Seth Godin. He‘s one of those folks who understand viral marketing and online media better than just about anyone, while recognizing that one size most certainly does not fit all.
In a recent interview, Seth was asked why he didn‘t Twitter. After all, he‘s into social media, right? His response made perfect sense-he‘s great at writing his marketing blog. He’s great at writing his books. He‘s great at being Seth. But if he had to add another element he’s not great at, doesn‘t necessarily enjoy, and had to divert valuable time to that would be better spent elsewhere, then:
All of a sudden, I‘m a wandering generality instead of a meaningful specific.
It hit me that‘s what‘s happening in a lot of retail stores right now. [click here to continue…]
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An article I read on a U.K. newspaper site yesterday reinforced something that’s been bugging the heck out of me the past several months. Recognizing the importance of protecting local cash flow, city leaders in Grantham decided to take up the banner of independent retailers-—the very people responsible for maintaining those coffers.
Helping launch “Get it in Grantham”-—the first of three buy local programs, to be followed in nearby Bourne and Stamford-—Paul Carpenter (Deputy Leader, South Kesteven District Council) explains, “The whole point is to ensure we keep a buoyant local economy.”
Which is exactly my point. [click here to continue…]
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Amidst the inevitable rumors that swirl during the gift show circuits, one keeps cropping up from numerous sources, in remarkably consistent form. While I haven’t been able to locate anyone with hard facts, it appears that Swoozie’s is buying at least a fair chunk of the Blue Tulip store chain. [click here to continue…]
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I read an article on the Glee newswire that really resonated, discussing trends in the hardware business—a market segment eerily similar to the gift industry (Glee, for those of you unfamiliar with the British shows, is the annual equivalent of our NSS, instead focused on garden, pet, and outdoor life products). Zeroing in on consumer motivation and big box competition, the article makes it clear—the keys to survival for independent retailers are necessity, communication, and information.
Based on comments made in the piece, here’s my suggested strategy for survival in this crazy, topsy-turvey business climate-—all of which can be accomplished in one week: [click here to continue…]
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There are a lot of retailers outside of metropolitan areas, including many RetailSpeaks members. While there are overlaps in methodology and best practices between the in- and out-of-city storefronts, a number of unique factors come into play for those catering to rural (especially agricultural) communities. As someone who grew up as a farm kid in Nebraska, I can appreciate the value of information particular to that mindset and customer base.
Thanks to Karen Depp (New Orleans at Home) for bringing this great article to my attention. Even if your store is located in a major metro area, I suggest reading this through-—especially the part about Millennials. That, dear retailers, is a buzzword you should all be focussed on these days.
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Here we go. The start of the winter gift show season, which means I’m off to Atlanta for several days.
I’ll be there from Friday afternoon through Monday evening, so anyone not already on the schedule who’d like some one-on-one time, please email asap. It’s getting tight, but I’ll move heaven and earth to fit you in.
If you’re a current client, please feel free to call my cell.
Safe travels, everyone!
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