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The metrics in this report cover three year trends in the industry, broken out on a state-by-state basis. Analysis is based on data applied from all firms in our database (total 13 million) which identify themselves in this primary line of business. Industry market vitality measures for each state are benchmarked against US averages for the industry, creating easy comparison of state-by-state performance. Industry sales are detailed for both company-wide headquarters data and locally generated
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The metrics in this report cover three year trends in the industry, broken out on a state-by-state basis. Analysis is based on data applied from all firms in our database (total 13 million) which identify themselves in this primary line of business. Industry market vitality measures for each state are benchmarked against US averages for the industry, creating easy comparison of state-by-state performance. Industry sales are detailed for both company-wide headquarters data and locally generated
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On Being Unique: Using customers and employees to maximize the shopping experience
By Peter Pishko
Part I:
How is it that some companies are able to expand in this time of economic strife while others cannot?
Well, it wasn’t some form of magic that helped these retailers survive and do better than others in difficult times. They had information and they used it.
Information is the key. These retailers know that this situation is not permanent, and many have been through similar economic times and survived; many have even thrived.
Part of this information is having the ability to know where customers are coming from and then using this data to know where to focus marketing dollars or even to determine where a new store location should be.
At this time, commercial real estate is in a bind and there are many empty locations. This makes it quite possible to work out a short term lease to not only move merchandise but also test new locations. Or for many of you who are in locations with empty store fronts adjacent to your stores, or at least in the same center, you can contact your center management and take advantage of these empty windows to promote your own location.
More importantly, information also tells a retailer what kind of merchandise to buy and how much of it they should purchase. Guessing and “looking” at inventory will eventually begin to bite into a retailer’s profits without them even realizing what is causing it.
With information, you can also become unique, and stand out from other retailers. That’s what I want to focus on in this article.
As most of you probably know, it is critical to keep your stores looking fresh. One easy way to do that is to change your store window displays frequently, at least every month, if not weekly.
In a forum posting, I came across a great idea to keep your window displays fresh. It talked about having a contest with your employees. Create teams of two people who would rotate to dress the windows either weekly or monthly. Every time the windows change, take pictures of the final display. At the end of the year, ask your customers to vote on their favorite window, and reward the winning team with a prize (paid time off, gift certificates, etc.).You might be surprised just how creative your staff will get!
Building Your Brand with a Website
A website helps you establish your brand and allows people to find you. Nowadays, the Internet is often where people look when trying to find information, resources, places, etc. So, a simple website just consisting of your location, phone number, a map, contact form, and special sale events is all you would need to start off with. A small website doesn’t cost much at all, and is well worth the small investment.
Further down the line, you may want to consider expanding your sales at the store level to the Internet and sell online. This way, you can offer eCommerce to shoppers who visit your site and want to buy your merchandise.
Communicating to Your Web Visitors
A website does more than putting your presence and brand on the Internet and allowing you to sell inventory to anyone anywhere. It can capture the identity of your web visitors by using a contact form which provides you with the means to communicate with them later. You can use those email addresses to send out coupons, flyers and announcements, all at no cost to you.
I recently received a call from a retailer who was working on a web integration project- the focus was to add email addresses to their customer data base. Could I work on a process that would take all of their email address and export this data to take advantage of email blast to their full customer base? My response was an enthusiastic yes. This was a small company in Cave Creek, Arizona and the embracing of technology for Customer Relationship Management was very encouraging.
When the staff learned of this project a flood of ideas came forth – personalize the emails based upon the specific product type purchased by the customer. Can we address the customer by name in the email greeting? Can the individual sales personnel be the signature on the email blast and then send emails not just as a promotion but also as a thank you for your purchase? These ideas came from the staff. They are now very enthusiastically capturing email addresses as this project is now theirs, they have a responsibility and are showing ownership.
Of course capturing the data is the first part; actually putting the data to use gets results.
For example, a specialty store in Manhattan sells high end kitchenware and home appliances. On a monthly basis they run a report that gives them the address of all of the customers that have purchased high-end vacuum cleaners that require replacement filters on an annual basis. This provides contact with his customers, offers them a service by maintaining their expensive vacuum cleaners and provides a monthly revenue stream.
Build Loyalty on the Internet with a Blog
There are many reasons a retailer should have a Blog (Web Log) with their website.
1. It provides fresh content to your website.
2. It gives your customers a reason to come visit your website on a regular basis.
3. It’s a fabulous way to stay connected with your customers.
4. It enables your customers to see and know what’s happening in the store.
5. It’s a great marketing vehicle—you can promote your blog on other blogs, which will spread the word about your store.
6. You’ll be creating a community and better relationships with your customers, instead of only seeing them in person once in a while.
I think a blog is a more personal vehicle for you to express your thoughts, show your personality and talk about your store (i.e., what’s new there and what’s happening).You can also give customers a little insight into what it takes to run a store.
Feel free to blog about unpacking 20 boxes in one day—take pictures of the inventory, and the mess! Talk about the challenges of being a store owner, and most importantly, talk about your new merchandise. And show off your merchandising! You’ll give customers examples of what they can do in their own home with your products.
Host a Store Event
In another retail forum, I came across a posting I want to share with you here:
Last weekend I decided it was time for a new pair of running shoes. For me, shopping for new running shoes is very exciting because it combines two of my loves—shopping and running!
I shop for running shoes at an independent shoe store (one that specializes in runners) because I love their selection and their customer service. And when I was at the register paying for my new shoes, a postcard caught my attention. They’re hosting a Diva Event for their female shoppers… wine, cheese and a custom bra fitting. I think it’s a very clever idea for a store promotion, and here’s why:
1. Strong design—the postcard has a great design and immediately caught my attention.
2. Informative content—the promotion will include an educational component that is interesting to female runners.
3. Free wine and cheese—everyone loves something for free.
4. Discount—20% off all apparel… second best to something for free is a good discount.
5. Clever promotional concept—what woman doesn’t want to be a diva for a night?
There are other ideas for hosting a store event. Invite customers to a tree lighting and give everyone who attends a free ornament, or invite a local artist you have featured in your store to do an in-store demonstration, or throw a girls’ night out party.
Sell more products that can be personalized.
Lots of vendors are offering lines that you can personalize in the store, or that they will personalize for you and ship directly to the customer (or to your store). Expand on these lines as much as possible.
Individualize your store by offering classes
The more you interact with your customers, the more you can sell. A few ideas: 10 tips for decorating like a designer for the holiday season, or how to trim the perfect holiday tree, or creating the perfect wreath. Of course, you’ll be selling some of the products you’re talking about, and if you don’t feel comfortable teaching the class, invite a local interior designer to help you out. You can pay them by working out a trade (merchandise and/or store credit in exchange for teaching).
Show why your merchandise is unique
Provide more information on the products you sell. If you sell products that are handcrafted, imported from an exotic location or made from something recycled, make sure you’re communicating this to your customers. Don’t just rely on word of mouth: frame signage explaining why the merchandise is so unique. Make sure you have additional print-outs on hand (on card stock paper) and give one to everyone who purchases one of the pieces. It will help you sell more products, and add a special touch when it’s given as a gift.
Provide stellar customer service
I’m talking about customer service again, but you know the more service you provide, the more customers will enjoy the experience and return for repeat purchases!
The successful retailer is in it for the long run, looking to not only maximize profits but create a growing customer base that is in it for the long haul.
Customer loyalty; we all talk about it. A happy customer tells 2 to 3 people how happy he is and an unhappy customer….well, we all know the adage. Keep them happy and coming back. Provide a shopping experience- Music and lights, signature fragrance.
Continued in PART II…
Our Website:
http://www.retailposcounterpoint.com
Peter Pishko
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The season is only at its half way stage and it has already become very exciting. Only 10 points separate the top five clubs and the race for the premiership title is heating up. At this point of time, the demand for EPL goods is very high. Each and every fan would like to have something related to his/her favorite club. May be it’s an extra-large poster on your bedroom wall or a card signed by your favorite star, you will want something.
When you decide to buy something, there is always the question of how much the product costs. Even if you are a die-hard fan, you need to afford something before buying it. If you go to a retail store, you will not be able to get what you want for an agreeable price. The prices are very often too high for something that’s not worth that much. You will not be able to spend all your savings on football goods. Most retail stores come with a price tag that is shocking. But if the prices are so high, is there a way to buy? Yes, there is.
An auction site is the answer. You might wonder what the difference between buying a product on retail and on an auction. There is a lot of difference. In an auction, you get to choose the price which you can pay for the product. If you win, the product will be yours. The starting price of most auctions is very low and if you are clever enough or if you have a little bit of luck, you can hit jackpot. It would be as if Santa Claus gave you the gift that you wanted. Furthermore, you will save a lot of money by buying on an auction site.
Using an auction site is very simple. You just visit the site, search for you favorite EPL product and bid for it. I will let you know an easy way to win auctions. Bid as low as you can and bid as many times as you can. Another technique in winning an auction is to bid on an item when it’s about to close. There are very few auction sites for EPL goods and they are very rare to come by. In these sites, you will have products that are not available in the retail store. I recently bought a Cristiano Ronaldo jersey for 8 pounds. That’s how easy it gets friends. So, what are you waiting for?
Robert
http://www.articlesbase.com/fitness-articles/shopping-for-english-premier-league-epl-merchandise-286046.html
Many factors affect commerce, including uncontrollable and unpredictable rising and falling fortunes of various industries, such as air travel, that nevertheless still performs excellent passenger services for our American society. The soaring fortunes of the National airlines 10 years past, now has been reversed by ongoing bankruptcy factors caused by inflated fuel costs, worker pensions and salary contracts. American automobile manufacturers may face a similar fate from the Japanese aggression into the world vehicle markets, but contrasting the problems of these industrial icons of the past, the petroleum companies are flooded with phenomenal profits, and their warehouses are continuously overflowing with stashes of cash.
Box stores are experiencing record sales and are moving towards an overactive expansion for new store locations. Box stores are incorporated within and under one roof, a collection of many separate business units. A few of these competitive businesses would include a paint store, hardware, camera, clothing, building supply, grocery, pharmacy, plant nursery and many others. Can this momentum of the box stores march forward at its present pace? On the surface it appears that box stores are less vulnerable than smaller, more specialized businesses, because of their versatility in offerings of many different product lines and their clever, financially firm grasp on boxing-in contracted plant suppliers for merchandise and garden products that will furnish to them low priced plants and trees much below the prices of their competitors.
Perhaps the greatest threat to box stores expansion and survival is the current proliferation of more chains of well financed box store competitors. That additional competition will substantially dilute the future and success for all box stores in the market. There are many other factors that tend to destabilize the economic “status quo”. Consider the general slowdown in the present economy that can be caused by foreclosures, job layoffs, and high interest rates. A general slowdown in the U.S. economy would reduce spending on most goods by Americans and could precipitate a looming financial recession. The attack on the World Trade Center on 9.11.01, affected tourism for over two years following the incident. Many plant sales at nursery locations dropped 90%, until finally in March of 2002, the interested buyer for plants and trees was healthily restored. An event similar to 9.11.01 could again negatively influence the economy to a sudden retraction its momentum; the extent of the damage would be determined by the severity of the attack and where the attack might occur.
In early January of 1983, a deep freeze hit the Southeastern U.S., where most nursery container plants were produced and temperatures plummeted to zero degrees, even in South Georgia. A great amount of the spring inventories of, ‘ready-to-market’ plants were ruined to such an extent that the State Agricultural Departments “stopped the sale” and recalled many plants that had been distributed for sale, because the plant roots growing within the thin-walled plastic pots were frozen. Root rot entered and weakened the plants to the point that plants and trees were unmarketable. If a future freeze equally that severe in the plant production areas of the Southeastern U.S., the market demand for many plants items would be so restricted in supply, that sales could not be made and income for nurseries would be severely cut back.
Most box stores have discovered that in all areas that are North of Florida, it is not profitable and is impractical to grow or to keep large inventories of plants during the fall and winter, except for the quick sale items marketed for Thanksgiving and Christmas holidays, such as poinsettia plants, mums, and potted amaryllis flowers. The amaryllis bulb is easy to force into flowers in a matter of 3-4 weeks, and the bulbs are economical, as buyers pick them up impulsively when they are in flower. Most amaryllis will re-flower, so even if the plant is not sold when exhibited originally, it will often be picked up later by a buyer. Since it is not practical to stock up on plants for the box stores during the cold months of fall and winter, the empty space is commonly used to market Christmas trees and all the decorations that are associated with the holidays.
One criticism that has been directed toward the survivability of trees and plants sold at box stores is that Arkansas grown plants may not survive in Louisiana or Michigan climates. Another criticism is that the quality of the plants offered to buyers looks absolutely fine when purchased, but after they are taken home and planted in the garden, the leaves fall off and the plant flops. This condition can be expected, because most of the perennial and annual plants are grown in high concentrations of light and in 100% greenhouse humidity, but when the plants are re-located to lower light conditions or lower outside humidity, the leaves shrivel off and the plants must readjust to regrow after about a month in an altered environment.
Another potential problem of huge proportions has appeared from new invasive weeds that threaten to cover and plague the entire country, such as the tropical spiderwort, Commelina benghalensis L. Tropical spiderwort has spread throughout the Southern United States and appears to be unmatched in its chaotic spread by all other invasive noxious weeds. Tropical spiderwort, as the name, “tropical”,suggests and inaccurately implies that it is tropical in nature. Even though it is very sensitive to cold temperatures, it resurges like an uncontrolled monstrosity in late spring from the seed that are produced above the ground from blue flowers, called the “day flower”, and also from underground seeds that were produced at each node near the roots. Tropical spiderwort, rapidly covers farmland fields to damage such valuable crops as cotton and peanuts, as its vines grow several feet upwards to envelop and shade out those field crops. The USDA has issued an order to prohibit interstate shipments of container plants containing this new weed menace to all nurseries that produce containerized plant material for shipment anywhere. Nursery owners are faced with a dilemma with tropical spiderwort infestations, because of the aggressive genetic resistance of the spiderwort toward all herbicides, including roundup. It appears that the only control of tropical spiderwort, Commelina benghalensis L. is fumigation of the soil. The seed of this plant can sprout years after lying dormant and inactive underneath the soil. Nursery operators including box stores face this noxious weed, tropical spiderwort, as the most serious threat to confront agricultural continuity in many years.
Box stores have demonstrated in the past their talent and vision in changing the direction and goals of plant sales at retail operations. Whether those many successful ideas will continue in the future depends on many circumstances, many of which are unforeseen until they happen in the future.
Pat Malcolm
http://www.articlesbase.com/business-articles/box-store-plant-advertising-has-worked-up-to-now-part-2-56457.html
