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Just in; published last month. The best financial data available! Annual Statement Studies from Risk Management Association for all NAICS industries.
The ROI’s Key Retail Benchmarks Charts are one of the most-used resources of The ROI. And for good reasons!
Presented visually, these compelling five year trend charts reveal how stores in each retail vertical are trending on key financial indicators: profitability; inventory productivity; financial strength.
As you compare your results to these industry results, you can quickly identify areas of strength as well as opportunities for improvement. (Or in other words, you can be your own consultant!)
Or, contact us and we’ll show you how to use the Benchmarks and improve your operation going forward.
As you ponder 2024 and look ahead to 2025, now’s the time to take advantage of this resource. We’re here to help.
And yes, The ROI continues to provide these unique and proprietary Benchmark Charts for free.
Undoubtedly you'll agree with this. We read and hear a lot in the business press, but we treat 100% of it rather skeptically. And so it is with articles and commentary about this coming Holiday Season, specifically about retailers' inventory and margins. Nevertheless, there is considerable good news being trumpeted. Most recently, this feature article in the Wall Street Journal: "Retailers Hone Inventory for Holidays" *
Many Americans who can afford to save money – thanks to reduced spending on eating out, vacations, and consumer goods – are playing it safe and hoarding their cash, according to recent research by Gallup/Franklin Templeton.* And those who currently are saving at least a little money largely plan to keep saving rather than spending in the near term.
A few years ago we were on a PBS news show about retailing's ups and downs. Several months later, one of us ran into a teacher of one of our kids. That person excitedly mentioned having seen us on TV, saying "I didn't know you knew so much about retailing." (Yep, known just as someone's parent, right?) But then this very well-educated person said the key thing: "I never knew there was so much to be known about retailing!" Well, that incident happened a few years ago when retailing was perhaps more understandable, even more predictable. Alas, those days are history! Today, nothing in retailing is quite as understandable or as predictable as before. Or as manageable!
ICYMI. You know, that's the shorthand for In Case You Missed It. And in fact, we had missed this.
As reported by Chain Store Age*, "The Conference Board’s Consumer Confidence Index rose slightly to 107.2 in March, up from 105.7 in February. It was the first time the metric has increased in three months." Wow! Is that ever a stray ray of sunshine! We always look to Consumer Confidence levels as a leading indicator for retailers.
This is, after all, The Retail OWNERS Institute. We long have specialized in alerting, coaxing, and applauding retail owners worldwide. Today's message is a major heads-up. Keeping pace with the relentless changes in retailing has never been easy. Retailers know that constant adjustments are demanded. Then, the three pandemics of 2020 happened: COVID; the economic meltdown; the social unrest. And life changed modestly or enormously for almost everyone, including owners of retail businesses.
It doesn't make any difference if you're selling tires, turbans or tuxedoes. Poor prior planning produces pitifully poor profits. (You can take that to the bank!) We came across an article on this checklist theme for the rapidly approaching fall/Holiday season.
Incredible value! 👀
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