Showing posts with label Independent Retailers. Show all posts
Showing posts with label Independent Retailers. Show all posts

Wednesday, December 17, 2008

2009: The Year of Quality without Complication

This past year’s been interesting.

For me, 2008 was pretty terrific, albeit filled with too many third party political agendas (and I don’t mean election-related). For my friends who own retail stores, however, it was an uphill battle filled with enormous challenge--in most cases becoming critical as early as June.

Regardless of whether your year fell into the “terrific” or “challenging” category, it’s safe to say 2008 was complicated. Reeeeally complicated. The past twelve months generally gave a lot of pretty smart folks some pretty serious headaches.

Which is why I’m declaring 2009 The Year of Quality without Complication.

Think: Quality without overthinking. Quality of life plus quality of business. Quality that spills over to those around you in a sincere, productive way.

So what do you say we all unite under the following declarations?

In 2009, I, the undersigned, promise to:

1. Focus on what my customers need from me more than what I need from them.

2. Better understand the 80/20 rule, then buy according to that principle (and if I don’t understand that principle, I need to contact Cinda).

3. Take five minutes each month to send a hand written thank you note to someone who’s made a positive difference in my business. If I’m feeling particularly cheerful, I will write two.

4. Create a braintrust of me and four other local business owners, then meet for brainstorming breakfasts once per quarter where we’ll drink too much coffee, eat calorie-laden sticky buns, kick around wild ideas, listen to each other’s concerns, and find ways to grow each other’s businesses.

5. Try at least one new internet-based marketing method...even if it scares the hell out of me. If that requires relying on my 13 year old nephew for explanation, I will. If it requires hiring the 13 year nephew, I will.

6. Stop dead in my tracks when things begin to spin too quickly...take a breath...and regain control. Life can only race as fast as I allow it to.


I have read the above, agree to it with all my retail-lovin’ heart, and sign here in black ink (because red ink is no fun):

_________________________________
Name

__________________
Date


Now, print...sign...and tape to your office wall. Or your forehead. Your call.

Thursday, December 11, 2008

Conquering Kate’s

For those of you familiar with Kate’s Paperie in New York, it’s no secret what was once the shining star of stationery came upon tough times this past two years. After handing the reigns over to the next generation, Leonard Flax watched his beloved boutiques fall into financial disrepair and near extinction.

Well folks, take heart. Someone’s come in to save the day.

Angelica Berrie, the former CEO of Russ Berrie & Co., has written the check and holds the keys to all five Kate’s locations. With plans to overhaul the design of each store, update the company’s website, and create strategic partnerships with style-makers-and-shakers, odds are there will be all sorts of gawkers during next spring’s National Stationery Show.

Spring Street--the store where Leonard began the tradition--is first in line for a face lift, followed by the others throughout 2009. Part of Berrie’s plan to step things up includes commissioning artists to create window displays worthy of a museum...or by someone who’s already been in a museum, starting with sculptural artist Zoe Bradley.

Something tells me we’re in for a real treat...at least those of us who aren’t stationery retailers in Manhattan. If Kate’s can be reinvented to mirror the service and selection Leonard built, they’re gonna be pretty tough competition.

Once again, the queen returns to the throne.

Friday, November 21, 2008

Don’t forget....

There are still a few spaces available; once we max out, though...that’s it.

For: Retailers who want to stay upright and breathing through this economic melt down
When: Monday, November 24, 2008
Time: 8:00 p.m. E / 7:00 C / 6:00 M / 5:00 P
Duration: 1 hour
Presenter: Cinda Baxter, Always Upward Consulting and founder of RetailSpeaks

Description:
Retail has never been harder, nor the risks greater. Learn the five vital things you need to do right now to protect you and your investment as the consumer market twists and turns. The goal of this session is to assure that you’ve stacked the deck in your favor, prepared and protected-—regardless of how the game plays out.

Cost:
$37.00 per enrollment
Space is limited; feel free to have multiple people listen in on a speaker phone. (Note: This seminar is structured for retail business owners; some information may be more sensitive than what you typically share with employees.)

To subscribe to this session:
Click here to be taken to the Always Upward home page, then click on the event link. Major credit cards and PayPal credit accounts are welcome.

Not a retailer?
Feel free to spread the word to anyone you think might be interested in protecting their investment; the more stores who protect themselves now, the more that will still be around tomorrow.

Thursday, November 20, 2008

The GHTA conference

Today’s the big day--the start of the Gift and Home Trade Association national conference, in Sanibel, Florida (yeah, tough gig, I know). For those of you not familiar with the GHTA, this is a collection of CEOs, Presidents, owners, and upper management representing the most influential vendors, manufacturers, sales agencies, and trade magazines in the gift and home accessory industries.

On Saturday, I’m presenting two seminars called “Here and Now...and Tomorrow,” detailing the realities that concern retailers today, what concerns them about the next year, and how those concerns are going to impact the way they continue to do business. Thanks to the contributions of an advisory group of independent retailers representing a cross section of stores nationwide, the data is as “of the moment” as it gets.

Thanks to those of you who answered the call, sharing your wisdom and suggestions for the sessions. This is one of those cases where you’ve got a captive audience of real decision makers; together, we can help them decide what will help independents most in this unprecedented economic climate.

Wednesday, November 19, 2008

Morning media

This morning, the Today Show did a segment about how to save money this holiday season. As expected, the usual items were on the list--pay in cash instead of credit cards, discuss pulling back on gift giving as a family, begin with a budget, etc.

Two suggestions, however, nearly had my head spinning like a whirling dervish: (a) that consumers should begin shopping online right away, for as much as they can, since that’s the best places to find great gifts, and (b) that consumers should go to local stores to look at items in person, then return to the internet to place their order or pass along the websites as their wish lists.

Yes, you read that last part correctly. Please use your community stores as free showrooms for online retailers.

I can't begin to tell you how that made my blood boil...especially since this segment came on the heels of a piece about the shortage of seasonal retail jobs due to the economy's impact on small business.

Duh...but how about the impact of the media on small business?

Newsflash. It's not just the economy that's kicking retailers in the teeth. It's you. It's your continual recommendations to forego local retailers and jump straight to the internet. It’s forgetting that a community is the sum of its parts, not just the residential side. And it’s playing cheerleader for the very thing doing the most damage to independent businesses while bemoaning their disappearance.

I’m headed to the national Gift and Home Trade Association conference today, where I’ll be presenting two seminars to vendors and reps about the concerns of independent retailers this weekend.

Might add a section about stemming the tide of bad press, as long as I have their ear.

I’ll post from Sanibel, where it’s at least 40 degrees warmer than it is here....

Monday, November 10, 2008

Taking control of your future

At the request of several retailers, I’m presenting the following teleseminar in two weeks. Please forward this to any store owner you think might benefit from the information....

Audience: Retailers who want to stay upright and breathing
When: Monday, November 24, 2008
Time: 8:00 p.m. E / 7:00 C / 6:00 M / 5:00 P
Duration: 1 hour

Description:
Retail has never been harder, nor the risks greater. As a store owner, you have a lot on the line-—from inventory to your home mortgage, odds are just about everything in front of you is tied up in what happens the next few months...or few weeks.

This teleseminar boils the “What do I do now?” list down to five vital actions that need to be taken to protect you and your investment as the consumer market twists and turns. The goal of this session is to assure that you’ve stacked the deck in your favor, prepared and protected-—regardless of how the game plays out.

Cost:
$37.00 per enrollment
Space is limited; feel free to have multiple people listen in on a speaker phone. (Note: This seminar is structured for retail business owners; some information may be more sensitive than what you typically share with employees.)

To subscribe to this session:
Click here to be taken to the Always Upward home page, then click on the event link. Major credit cards and PayPal credit accounts are welcome.

Not a retailer?
Odds are you know someone who is. And odds are, they need all the help they can get. Feel free to spread the word to anyone you think might be interested. I hope to see as many of you as possible; there’s no time to waste.

Wednesday, October 29, 2008

The upside to price fixing

Back in August, the Supreme Court handed down a decision that, while not favored by discounters and online retailers, protects independent stationers in ways they’ve dreamed of for years. With the blessings of the high court, manufacturers are able to not only set MSRP, but are also allowed to set a minimum threshold for prices on their products and enforce them.

Translated? There’s finally a way to stop discounters and home studios from eating your invitations business alive (assuming your vendors step up and do the right thing).

This summer’s Supreme Court ruling, based on a lawsuit between a discount store and a purse manufacturer, reverses a 1911 precedent that made price guarantees illegal. According to the modern court, such assurances aren’t automatically breaks in anti-trust law, but ways to protect manufacturers (and, by extension, full service retailers) from predatory pricing schemes that devalue their products and business. To see the full Wall Street Journal article explaining the decision, click here.

How does this protect you, as a full service stationer? Simple. It pulls the plug from vendors’ protests that they can’t force home studios and discounters to charge full price. With the exception of Crane’s (who wisely prints “Property of Crane and Co.” on the cover of every album), endless vendors have chanted that anti-trust logic while continuing to enjoy income from discounters, to the fiscal dismay of their full price, brick and mortar retailers.

With the new ruling, however, vendors are allowed to set firm minimum prices, then close the accounts of discounters who continue to price below them. Period.

Imagine the reaction of home studios who rely on discounts to lure customers to their basements and kitchens, or internet invitation discounters, who have been riding the coattails of traditional retail stores for years, essentially using them as free showrooms to make their own online sales.

Paper-related discounters aren’t the only ones crying foul; operators like Brian Okin, owner of an online home improvement store, claim minimum price policies are responsible for him losing sales and substantial revenue. In Mr. Okin’s words, “It just makes it so difficult to compete.”

Huh. Kind of like when online discounters undercut full price storefronts...?

Now...whaddaya say we get those books out of Suzie Smith’s basement studio once and for all?

Tuesday, October 21, 2008

Sweet treats

Congrats to Write Selection for making the Dallas version of Daily Candy. That’s quite a feat, but Write Selection is quite a store. Susan Foxworth and Betsy Swango understand quality product and extraordinary service better than anyone around; as someone who’s known them for many years, it’s an honor and a pleasure to see such good things come to such good people.

Well done, ladies. You’ve earned it.

Tuesday, October 14, 2008

How to Bomb in Six Easy Steps

You’re scared, I know. Much of life in Retail Land changed this year...but not everything. What you knew on Memorial Weekend continues to be true today. Just gotta get your groove back and start thinking with the head, not the nerve endings.

If, however, you’re determined to be eaten alive by current economic conditions, here are six easy steps to assure you’ll crash and burn by December 31st:

1. Make split second decisions
Fear breeds snap decisions. Snap decisions breed nightmare situations. That ought to kill you off by New Year’s. Or...take a moment to rewind. It may feel like the economy is running you over at 90 mph, but it’s not—a day still has 24 hours, a week still has seven days. And you still have the ability to make wise choices and savvy moves, just like you did before all this monkey business began. Put thought into your actions; this isn’t the time for business-related bungee jumping.

2. Put all your faith in the daily register tape
Want to freak yourself out? Hang on every number the register spits out. Or, as a more positive alternative (requiring less Pepcid AC), see it as a small piece of the big picture. Don’t let a lousy Thursday derail your plan for the remainder of the month. Examine which categories are moving, which are stalling, and what tweaks you can make to reshuffle the deck. Clearance out old product at fire sale prices. Bring in new product at the same time so people don’t think you’re closing. Offer as many free services as possible, adding value to each purchase.

3. Spend more money than you need to
You‘re ordering $254 worth of product, but if you bump it to $300, you’ll get free freight. Good idea? Sure, if you want it to be your last. If you’d like to see Valentine’s Day, however, consider this: Why pay $46 for more product when the freight would have only cost $24? If that $46 is burning a hole in your pocket, find another fresh new line to bring in that complements the first. Don’t cave into last minute specials or go deep on single vendors unless the numbers truly add up. Order what you need; let someone count the backstock in their year end inventory.

4. Bet the farm on someone else’s opinion
One of the best shortcuts to early retirement? Decision by committee, with a committee that has no financial risk in the outcome. The alternative? Remember there’s not a soul on earth who loves your store more than you, or understands it better. Sure, it helps to ask others for advice (within reason...fellow retailers, reps, vendors, consultants, yes...your Aunt Mildred who only shops QVC, no), but in the end, only you know what fits. Listen to their opinions and ideas. Consider their recommendations. Draw an old fashioned Pro/Con chart if you must. Then trust your gut—not the mailman’s.

5. Under-appreciate your customers
Just let ‘em drift; you’ll be gone in a couple of months anyway, right? Or...you could try remembering that customers need to feel the love, especially now. Connect to them without tieing a sales pitch into the message. Offer fresh baked cookies. Send handwritten thank you notes. Play happy music in the background. Welcome them with a confident smile (even if you have to fake it), an open ear, and a zero-pressure environment when they stop in. If they’re just browsing, provide them a place that’s comfortable and sane; it increases the odds they’ll return. Stores that provide great customer service and peaceful respite from the world will win the race.

6. Doubt yourself
If you’re planning to crash and burn by January, odds are, this one’s a cakewalk. HEY-—aren’t you the same fearless being who jumped into retail to begin with? Where’s that damn the torpedoes mentality you once had? The creative mind that came up with new ideas at the drop of a hat? You might be scared, you might be antsy, but you’re still the person your employees and customers look up to. Strut your stuff, act the part. Confidence in one inspires confidence in others; right now, you’re the person to deliver it.

Buck up, kiddo. It’s time.

Friday, October 10, 2008

Just how safe ARE you?

Given this morning’s plummet on Wall Street-—the entire week’s plummet, for that matter-—retailers are wondering just how well their back sides are covered. Sole proprietor...LLC...Sub-S...ee-eye-ee-eye-oh.... What was a simple tax question a few years ago is now a matter of legal protection, should the worst come to pass.

Nina Kauffman, a New York attorney specializing in small business matters, recognizes the urgency behind owners having a firm handle on their legal position. To explain the various options and implications, she’s presenting a free teleseminar next week:

“Are You Exposing Yourself? How Choosing the Right Business Form Provides Protections and Peace of Mind”
Date: Thursday, Oct. 16, 2008
Time: 8:00 E / 7:00 C / 6:00 M / 5:00 P
Topics include (but are not be limited to):
  • The different kinds of business entities that will protect your assets
  • How to weigh and balance the options to choose what’s right for you
  • The drawbacks to handling business formation online
  • How to find advisors who can guide you to your goals
I’ve spent time with Nina and can assure you she’s (a) real, and (b) grounded, and (c) invested in your success. Personally, I can’t imagine a better time to get a grip on your legal situation and the implications of not being properly organized...and can’t imagine a better person to help you do that.

Space is limited, so don’t delay. Follow the link and get registered. Now.

See you on the teleseminar.....

Wednesday, October 8, 2008

You aren’t alone out there

Sometimes, it’s the headlines alone. Sometimes, it’s the juxtaposition of two in a publication.

This time, it’s all of the above.

In Gifts & Dec’s weekly email newsletter, the following two stories appeared, back to back:

EBay Lays Off 1,000
Big Retailers Laying Off in Time for Christmas

At first glance, this doesn’t feel like good news. BUT...in my opinion, it is.

Think about it-—if big boxes are short staffed, that means customer frustration as they search high and low for someone to help them (already a major problem in several stores, especially Macy’s here in Minneapolis, where I’m convinced they train salespeople to hide in back). The more frustration, the better. Given how short consumers’ fuses are bound to be this holiday season (stress, stress, stress), any retailer who provides a sincere smile, great service, and a willingness to help will be a heaven-sent blessing.

And who does that better than small, independent retailers?

I know you’re stressed too. And I know you’re tiring of my constant “be positive” chanting. But folks, trust me-—this holiday season is going to be all about Mashed Potato Marketing and the psychology behind it.

Fortunately, being positive doesn’t require an invoice. Thank God.

Monday, October 6, 2008

Wal-Mart 2.0

We’ve known for a long time the customer perception of big box versus neighborhood business is pronounced. Big Box = Evil. Small Business = Neighbors. Doesn’t mean they always shop that way, but the mental picture is certainly in tact.

Until now.

Wal-Mart has been talking about creating a smaller, local-feel environment in their big boxes for a couple of years now. Well, that talk has translated into reality with this week’s opening of the first four Marketside locations-—Wal-Mart’s new “smaller format” grocery stores, placed nowhere near a Wal-Mart. Marketsides don’t wear the parent company’s moniker...have a much more whimsical logo than the original giant...but still don the teeth of a large, big box operation (aren’t you proud of me for not using the word “fangs?”).

They aren’t alone. Loew’s began kicking a similar concept around during their annual meeting last month. If consumers nibble at this, you can bet there will be more, and they won’t be planted on major highway intersections; they’ll land smack dab in your very neighborhood.

For now, this appears to be aimed predominantly at hardware and grocery-—retail categories not previously impacted the way the gift and stationery industries have been (think: Paper Source, Swoozies, Blue Tulip, etc.).

Will it stick? Or is this something that will burn itself out? Time will tell, although a failing economy only makes it harder for the locally owned stores to hold their own if one of these Mini-Me boxes pops up nearby.

Good luck, fellow retailers...and welcome to the party.

Saturday, October 4, 2008

No...not you.

For those whose hearts came to a full stop during the VP debates Thursday night-—
Palin: “But when you talk about Barack's plan to tax increase affecting only those making $250,000 a year or more, you're forgetting millions of small businesses that are going to fit into that category. So they're going to be the ones paying higher taxes thus resulting in fewer jobs being created and less productivity.”
Reality check time.

According to the non-partisan group, FactChecker.org:
“...it's simply untrue that "millions" of small business owners will pay higher federal income taxes under Obama's proposal. According to an analysis by the independent Urban-Brookings Tax Policy Center, several hundred thousand small business owners, at most, would have incomes high enough to be affected by the higher rates on income, capital gains and dividends that Obama proposes.”
”Several hundred thousand” is, according to most experts, somewhere in the neighborhood of 1.4% of all small business owners in the U.S.

Jump start your heart. You’re still on safe ground.

Friday, October 3, 2008

Did I call it, or did I call it?

In browsing through some of the old RetailSpeaks newsletters, I ran across my column in the January issue. Somehow, it seems more timely than ever...especially when you hit the part about Washington Mutual:

Let’s face it-—what shakes the economy shakes our stores. Many of us felt aftershocks from the mortgage crisis jiggle our registers; next up appears to be a wave of shakes from the very thing we love to see-—our customers’ credit cards.

Notoriously the last to admit risk, banking officials have been not-so-quietly whispering warnings of potential disaster in 2008. According to Newsweek, Citigroup has earmarked $2.24 billion to cover credit card defaults this year; Capital One, Bank of America, and Washington Mutual are each bracing for a 20% uptick in losses; and AmEx-—long seen as the home of financial sound credit card holders-—is boosting its default coverage reserves by a whopping 44%.

...I’d be the last to suggest anyone should be buying as if we were still in the cash-rich days of the late ‘90s (oh, to be there again!). But I do firmly believe the fastest way to store failure is to circle the wagons, hide the checkbook, and stop looking for new product....

Concepts like “open to buy” and “turns” have never been more critically important to independent retailers than they are today. It’s not enough to remember how last spring’s sales went; that was last spring.

In the end, and regardless of how the quarter played out, independents need to remember that looking behind never bodes well for what’s ahead. We have the ability to spin on a dime, allowing us far more flexibility than the big boxes, and can can tailor our product mix to the customers we know will keep shopping.

...Remember that this roller coaster ride we call “retail” has wonderful peaks as well as sometimes scary valleys.

Read that bold faced type part again. And again. Now’s the time to get smart, folks. Now’s the time to plan your budget, then stick to it. Now’s the time to switch from big, whale-sized orders intended to carry the entire quarter to a series of smaller re-orders that can be placed as cash flow supports them. Now’s the time to pay that credit card down as fast as you can. Now’s the time to reassure your employees that things are under control so they don’t scare off your clientele with deer-caught-in-the-headlights expressions on their faces.

And now’s the time to smile at your customers, no matter how hard it might be...after all, they can’t see your knees shaking when you stand behind the counter. You have to remember, the image they receive is the word of mouth they’ll take away.

Hang in there. You can do this. Believe it.

Thursday, October 2, 2008

Advice, please?

I can tell the stress level has jumped in Retail Land. My inbox is seeing more SOS emails than ever before from store owners who find themselves in tense predicaments with tight time frames--many of which have to do with controlling the message about how their store is doing. It’s not unusual to see an email begin with “Help! I have an emergency!”

Been there. Done that. And completely understand.

On-site consulting isn’t the only thing I offer; you can also opt for phone consults. Need me for a couple of days? No problem. Need me for a couple of hours? Still no problem.

I’m here to work for you....remember? Drop me a line; I’ll help with the heavy lifting.

Wednesday, October 1, 2008

Personal sanity in a retail life

Yup. I watched Oprah again.

In all fairness, a friend called to instruct me (catch that? this wasn’t a request) to watch today’s episode about slowing down. Apparently my frequent travels have a couple of folks concerned I’ll misplace my trail of bread crumbs and get lost in the woods.

But I digress.

Admittedly, I “watched” the show while working on the computer (these are billable hours, after all), but managed to focus on what was arguably the most important two minutes of the whole thing. Norman Fisher, Zen master and author of “Sailing Home,” offered terrific advice for the overwhelmed and overworked:
“How are we doing with our state of mind? How are we doing with our happiness? How are we doing with our attitude? We don’t think about this. We think about all the things we’ve got to be doing and all the ways we’ve got to be perfect, but every day we’ve got to wake up and say ‘How’s my state of mind today? Am I losing ground? If I am, I’d better address that first because the rest of the stuff I do won’t be worth anything if I’m harried and hassled and in a bad mood.’

“And it has to do with telling yourself ‘I have got to take care of myself. I’ve got to make that a high priority.’”
Yes, that’s hard to do...especially if you’re trying to run a retail store while Wall Street telling you Main Street’s about to melt down. So what do you do to retain your grip on reality?

According to Fisher, you take 20 minutes...30 minutes...first thing in the morning. Get up before the kids, the spouse, or your normal alarm clock time. (Yes, losing the thirty minutes of sleep is a bummer, but not as big a bummer as dragging yourself through the day wanting to bite the heads off your customers, then spit them out on your employees.) According to Fisher, you should use the time
“...to breathe, to return to yourself, to digest yesterday’s emotions, to kind of take stock of yourself, and set yourself up for the day. Believe me, that amount of time [at the start of your day] saves you time during the course of your day.”
I buy it, partly because I’m pretty good about doing something similar to this. Took eight or nine years in the store to recognize boundaries weren’t going to prevent me from achieving goals, but were going to get me to them.

Try the twenty minutes thing, first thing in the morning, before you turn on the Today Show or say hello to your spouse. Slither out of bed, go to a quiet spot in the house where you can be completely alone, then breathe in. Breathe out. Take stock. And know you just invested in the best asset you have-—yourself.

Thursday, August 28, 2008

Weddings Etc.

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

Friday, July 25, 2008

Numbers Unplugged

My heartfelt rant about the numbers game and Atlanta attendance is apparently getting some traction. Have had a couple of phone calls and emails from vendors asking where, then, I think the disconnect is between what they saw in their showrooms and the actual attendance count data. Here’s my response:

1. Look around your showroom. Are the products offered also begin carried online? If so, there’s part of your problem. Retailers are avoiding things that can be found in their stores, then purchased online for a discount. Why in the world would they want to be some e-tailer’s free showroom?

2. Are your vendors selling to big boxes? There’s another part of your problem. Independent retailers have had it with Target, Kohl’s, WalMart, and the like. They’re trolling those aisles before they come to market, making darn sure they don’t pick up the same stuff.

3. Did your vendors offer new product? Did you show new lines? If not, well, duh. Explains why the temps had foot traffic and you didn’t. Lots more newbies...less overexposure.

4. There are three types of buyers right now:
  • (a) those with ample spending money
  • (b) those closely watching budgets while buying responsibly, and
  • (c) those who don’t have money, period (aka: the “Lookie Loos”)
Group A showed up and ordered. Group C skipped the show entirely (don’t even try to tell me that’s a bad thing), and Group B-—the vast majority of buyers-—will be working with your road reps or faxing in orders from catalogs. That’s not lost business. It’s rescheduled business, if you play your cards right and attend to their needs without making them feel pressured.

5. Smart buyers aren’t front-loading with as much inventory as before. Smart buyers are bringing in sure sellers, at a conservative pace. They plan to place reasonably sized re-orders as needed, rather than take on a whale-sized shipment all at once. As cash comes to them, orders will come to you. Can’t judge a show on just the paper written at it any more; technology and a sagging economy stretch that window out by six months.

6. Double check your math. When pondering quieter hallways at the show, did you factor in the reality that most buyers are clipping their stays down to two or three days? Ex: Let’s say you have 100 people (for the sake of easy numbers), five days, and a hallway. In a good year, all 100 people are in the hallway every day, from morning to night. Makes it look like 500 people were there (100 x 5), but there really were only 100. Now...let’s say those same 100 people each cut their time in the hall to only two days. Still had all 100 people...just never saw them in the hall at one time. Some days, could have been as many as 80 of them there...other days, could have been as low as 20. Never all 100 in a single glance. Trying to gauge show attendance by traffic levels without factoring in frequency is flawed math. Badly flawed math.

It’s all cyclical, folks. Let’s use this economy to hone our skills and survive together.

Friday, July 4, 2008

Independents’ Day Hymn

"Independents Day" (spelling intentional) has been used a lot to promote the little guy:

2001:
Grundig, German manufacturer of world band phones and electronics, launched a year long “Independents Day” campaign promoting locally owned retailers who carried their line. The retailer who sold the most product won a trip to the U.S....on the Fourth of July.

2004:
The Federation of Wholesale Distributors in the U.K. launched its “My Shop is Your Shop” campaign on June 1st, dubbed “Independents’ Day.” Over 5,000 retailers participated with great success.

2006:
Two dozen retailers launched a “buy local” campaign in the Portland, Oregon area...long before most U.S. consumers had even heard the phrase.

2008:
Record labels from around the world kicked off their inaugural “Independents Day,” celebrating the role of indie labels in pop over the past 50 years.

In keeping with the patriotic theme, here’s my little ditty for independent retailers everywhere (to the tune of The Marine Corps Hymn, aka: From the Halls of Montezuma):

From the lanes of small town USA
to the streets of NYC,

there are independents everywhere

and we’re happy so to be.
Our job‘s not the easiest around,

and our work load’s ten times yours.
Still, we’ll stick to what we each do best

just to keep open our doors.

We know customers by their first names

and we know their kids’ names too.

We hear personal things most should not

as we show folks what is new.

As a therapist, we’re free of charge

and we’ll sell the latest wares,

but start buying from those online stores?

Good luck finding one who cares.


Yes, our hours are shorter than the “bigs,”

and we carry fewer lines.

We can’t offer 2/3 off the price

or impress you with big signs.

Still, we’ll give you better quality,

both in goods and service too.

If you need cheap stuff, then go to them;
come to us for what is new.

So to Walmart, KMart, and the rest,

do you think your staff can sell?
Give them Mrs. Johnson’s two hour chat

and they’ll think they’ve gone to hell.

And to online stores like Amazon,

who are open round the clock,

we don’t want to be what you’ve become
;
we like profit with our stock.


Need the newest thing or latest buzz?

Get it from your corner store.

We are nimble, quick and sharp as tacks,

and will always provide more.

We will be here when it rains or shines,

and will rise up to each test.

As an Independent Retailer,

we are, simply put: the best.


© Cinda Baxter, Always Upward 2008