Success only runs one direction....
Color me astonished.
At no time in the past fifteen years have I seen such a chasm between vendors who “get it” and those who don’t. The ones in the former camp are adjusting minimums, reorder requirements, and program rules; the ones in the latter seem to think that forcing retailers to buy deep and reorder large is still a successful business model. [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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From Katie Couric on CBS News:
”There will be gifts for the new President and Vice President, by the way: A framed official photograph of their swearing ins, taken by a Senate photographer; flags flown over the U.S. Capital during the ceremony; and engraved crystal bowls by the Lenox company…”
There’s a certain irony-—albeit timely irony-—in the fact the commemorative bowls are produced by a company currently in bankruptcy. Despite being the oldest crystal and china manufacturer in the U.S. (and sole provider of the keepsake since the tradition began in 1989), Lenox exemplifies the condition of our economy and its impact on even the most established business.
Something tells me this is one president that fact won’t be lost on.
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At last-—good news. According to a national survey by the Institute for Self Reliance, independent retailers out-performed chain stores in 4Q 2008. The linchpin that garnered success? Well organized Buy Local campaigns.
While I have yet to see an internet-based BL program that delivers in financial terms, I firmly believe that grass roots programs utilizing local media, partnerships (financial and marketing) with local Chambers of Commerce, and groups of neighborhood retailers pulling together as one are home runs the majority of the time.
A good example of this comes from The Healdsburg Retailers-—Retailer Excellence Award winners in the Marketing category last August. [click here to continue…]
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Morton’s, the upscale dark wood and white linen steak house, has been snagged by the economy. According to a letter in my mailbox this morning, the Minneapolis location has decided to cease lunch service, in spite of being located in one of the country’s strongest downtown business districts. It’s not hard to guess that the move is in reaction to a lack of patrons able to justify a pricey expense account lunch-—even when surrounded by the few conservative banks who remain on firm ground.
To offset some of the loss and attract more fiscally responsible patrons, they’ve added a Bar Bites menu to their ongoing, award winning dinner service.
The point of this missive is not to place another stake (no pun intended) in the heart of the economy, but to point out that reinvention is the key to moving forward. [click here to continue…]
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It’s true; twenty-two people from the custom division of Crane’s have received pink slips due to the slow holiday season. Not exactly the uplifting news stationery retailers need right now, especially in light of the stress level already going on in stores and with consumers. [click here to continue…]
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Yes, 2007 stunk. At least it did for most retailers.
So what do you do now that the page has turned? How do you get out of the gate ahead of the competition?
You do it by thinking like a start up…like you did when you first opened your store. That other time it was all expenses with no income. That other time you had to wheel and deal or live on macaroni and cheese for six more months. [click here to continue…]
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Am I the only one that thinks this Staples email blast crosses the line?
It’s one thing to tell consumers your business is solid and stable, but it’s quite another to do so by pointing out someone else has fallen on hard times. I’ll bet the genius who came up with this shining example of bully mentality is the same kid who threw rocks at smaller kids on the playground.
There will inevitably be temptation for independent retailers to do the same—if not in print, verbally-—-as some of their local competition falters or fails. My advice? Don’t. It’s one thing to promote that your service is better, your product selection is better, and your staff is better; it’s quite another to gloat over someone else’s pain, then try to make money from it.
Unless, of course, you want to look like a bone scraping vulture.
I can think of better things to be remembered for.
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