PERSPECTIVES

The season of ghosts and goblins and things that go bump in the night is upon us. While Halloween comes and goes, there may be another very unhappy monster haunting retailers this Holiday season. And it is spooky!

What is this monster? It is an unintended consequence of the good faith efforts of many retailers to provide "excellent customer service." Customer expectations have been raised to heights that may not be fulfilled this year. A grim reality is setting in. 

It has begun; the 4th quarter of the year. But sadly, Covid-19, the Delta variant, and now the Alpha variant will have huge influence. 

Meanwhile, there is no shortage of opinions and predictions about the economy, whether from Wall Street, the Fed, Capitol Hill, or your buying group or retail trade association. 

Amidst all this, we were intrigued by a report that could be of far more value to retailers: results of a monthly survey of consumer concerns.* After all, for retailers, the shopper matters much more than the pundits on the business pages.

Just when it seems we can get to the "New Normal" or the "Next Normal," another disruption comes along. 

"There still is so much uncertainty" is the lament, often accompanied by a sigh of weariness. Or resignation. Trying to plan for the Holiday season, or looking ahead to 2022, can seem especially daunting right now.

Occasionally, all of our businesses need to hit "pause;" this is one of those times. 

Recognize that thanks to the pandemics, most everything about running your business has changed. Your merchandise mix; your customers; your staff; your competitors; your suppliers; your landlord; your technology; etcetera. Everything!

• With all those changes, how could going forward have much resemblance to however you used to do business?
• And as is always true in retail, the name of the game is adjusting!

Consider this: Will this Holiday Season happen... 

• In traditional RETAIL Time? 
• Or always-on INTERNET Time? 
• Or, the grinding PANDEMIC Time? 
• Or, some combination of all of it?

What a 90 days it will be! 

Remember July and early August, when there was much optimism? 

• Consumers were excitedly resuming in-store shopping and dining. 
• Social gatherings were increasing. 
• Pent up demand was high. 
• And shoppers were eager to make this year extra special to compensate for last year. 

Think about it. Shoppers, employees, people everywhere today have, in the back of their minds, one defining thought. 

No matter where they work, where they shop, where they live, where they travel, where they eat, they always wonder "How safe will I be?"

For retailers, the Fog of Uncertainty that began in April 2020 around the pandemics keeps coming back. Just when it appeared that we were ready to "get back to life" if not "back to normal," the Delta variant has surged. 

This has created more uncertainty. How willing are your customers to actually go out and shop? Even more important (to you): how willing are YOUR customers to shop with YOU?

So, here's an idea: Why not ask them? Really. Send them a short questionnaire.*

We hear it over and over. "Good business citizenship" matters to shoppers. Might Labor Day weekend be a good time to start getting the word out about your citizenship contributions?

Customers vote with their feet, their wallets, and their hearts, and increasingly choose those retailers who "do the right thing", whether it's how they source product, hire and pay employees, reduce environmental impacts, etc.

There are things that independent retailers do day in and day out, without perhaps even realizing how special they are! 

Most retailers we know are "aw shucks" type people. It's charming, but, especially in today's world, your leadership can be a competitive edge! So, why keep it a secret? 

Throughout the pandemics, many independent retailers successfully shed their "technology laggards" label, as they pivoted to embrace an array of digital tools.

Yet going forward, it is well to keep in mind what really matters to the customers. And it may not be more technology.

A recent survey* of more than 2,000 customers provides some interesting insights as to who shops where, why, when and how. It especially highlighted the differences between "large stores" and "smaller stores" (or as we view them, "specialty stores.")

• “The data revealed that 75 percent of consumers shopping at a larger store knew what they wanted before crossing the premises." 
• Those who shop in larger retailers say 'We just want to get in and get out.'”

Hmm. This suggests to us that shoppers essentially are treating large stores the same way they treat the internet: