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.
We think this may be a very different 4th of July Holiday weekend. It will not be just about red, white & blue window displays, or flag waving, or fireworks displays. Instead, there is a new mood, a new attitude that is emerging. First, we believe that all shoppers are reeling from being swamped by some major and concurrent attention-grabbing events and trends affecting all of us. Seemingly with no end in sight.
Now that we've put a wrap on 2021, and before we really dive into 2022, it's time to catch your breath and reflect on where we are after 2021. Perhaps like us you believe that fundamental and enduring changes have occurred; no one can operate on "auto-pilot" anymore. All of us have to learn new processes, and form new habits. What's it called? Oh yes; "embracing change." Lots of it. That's why it is a very opportune time, particularly for owners, to have a very active Q&A session with themselves.
As we get ready for the New Year, and the post-Holiday season slowdown settles in, here's a positive way for retailers to re-energize and re-focus their entire organization, whether one store or even a hundred. We learned this from one of our clients with nearly 50 stores widely scattered over 6 states. Each day, without fail, they would take time for what they called the "Corporate Cheer." You will see how it can be a fun addition to any retail business, no matter the size.
In most years, this is the week that is typically a bit of a lull. The first wave of shoppers – Thanksgiving, Black Friday, Shop Local Saturday, Cyber Monday – has crested; the final wave doesn't begin in earnest until this coming weekend. But this year IS different. Shoppers began shopping in earnest much earlier. And they use the internet to do their browsing, and then have an array of choices for receiving their purchases, from delivery to curbside pickup to in-store pickup. So, what better time than this to revisit your returns policy?!
For retailers there are two very strong trends happening now through the Holiday Season. And they are remarkably divergent.
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!
Incredible value! 👀
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