Re-Inventing Retail

From the Co-Founders of The Retail Owners Institute.
Tips | Tactics | Insights on the Business of Retailing.

2018 Holiday Prediction: "Umm, what happened?" Bookmark

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In any given situation, there are three types of retailers:

• Those who make things happen

• Those who watch things happen

• Those who say, "Umm, what happened?"

Increasingly, it looks to us as if the 2018 Holiday Season is going to be one where most retailers will be saying, "Umm, what happened?!?"

Granted, every Holiday Season is a challenge. But there seem to be some additional complexities this year. Consider this year's buys for the Holiday season, for example.


With the already-imposed tariffs (and promises of more to come), what is the best way to manage your inventory, its margins, and its quantities?

Increase orders now (at pre-tariff prices), but risk being over-inventoried?

Wait to order, choosing to pass the increased costs along (but risk lower sales)?

Or, wait to order, hold the line on prices, and bear the profit losses?

Let's be clear; each situation is unique and we don't have a recommendation for you. Nevertheless, you must make a decision!

Of course, your buying decisions depend on your assumptions about consumer demand. More crystal ball gazing is needed.

What are your assumptions today for how your customers – and your sales – will be affected in November/December by:

• Upticks in inflation?

• Stock market fluctuations?

• The turbo-charged turmoil of this election year?

• Worldwide recession?

• Etcetera

Enough of the drama, some say. It's only July. You know, "Summertime, when the living is easy." And much can and no doubt will change between now and this year's Holiday season.

All the more reason that now is a great time for each retailer to watch the situation more carefully than ever, consider all of your choices, and be the best strategist you possibly can be!

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About The Co-Founders

Pat Johnson and Dick Outcalt, The Co-Founders of The Retail Owners Institute®, have been called "The Zen masters of retail finance!"

Since 1999, they have been assembling  their proprietary content into a unique self-help website. The Retail Owners Institute is an unmatched resource that assists retailers worldwide with basic financial training, assistance and easy-to-use tools.

Their engaging and empowering how-to resources about the financial levers in retailing are informative, fun(!), and retailer-friendly. Their promise: "Everyone will 'get it'!"

Pat and Dick are recognized experts in strategic retailing. Working only as a team – Outcalt & Johnson: Retail Strategists, LLC – they have been consulting, publishing, and speaking professionally throughout North America since 1990.

They focus exclusively on retail, or wherever retail is involved. They work with CEOs, CFOs, boards and owners of retail operations, as well as manufacturers or wholesalers expanding into retail. And they also are Retail Turnaround Experts.

Since 1999, empowering retailers and store owners to "Turn on your financial headlights!"