You may be one of the many retail owners who share our vision of why to own your own business: “Making money. Having fun. Doing good.” You see, we believe that Owners do not have to choose just one goal for defining "success" in their business. Goals do not have to be mutually exclusive; they can converge. Just like in a Venn diagram. Here's a fun exercise. Make your own Venn diagram for your own business. Start now to make that convergence come to life.
Every day, there are all too many headlines of things outside our control.
The drumbeat of news about these events is relentless. And wearing. While retailers are notably resiliant and optimistic, there IS a limit to how much uncertainty one can continue to take. Then we discovered that there is a name for all this: VUCA.
Retail IS detail. And some of those pesky details are increasingly cropping up to torment online sellers. For example, there's the matter of managing returns. As Chris Jarvis wrote in DMM/ShoppingCenters.com*:
Meanwhile, the pure-play online retailers are confronting the ever-demanding customer expectations.
Just this morning we saw yet another article speculating about the staying power of online shopping, in this instance, grocery shopping.
Of course, it's not just media pundits who are looking for answers to this question about online versus in-store shopping. Retailers are living with this issue, and they have to make decisions.
As the second quarter of the year begins, many of us are experiencing what that fellow in the cartoon is feeling. We are not where we expected to be (and maybe not even where we thought we were!) Ahh yes, yet another flexibility test. The first quarter of 2022 was full of some major events, nationally and internationally, that disrupted many plans. As you contemplate where you are now, compared to where you thought you were, and especially, where you intended to be, don't despair! Even more important, just like you do with the GPS system in your car, disregard"returning to the prescribed route."
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.
No, Not About People This Time While we typically think of people as recipients of recognition – and we trust you already are doing that, right? – this is a different challenge. Ready? Here we go! Of your merchandise, which products are Award Winners?!
Incredible value! 👀
Start NOW!