For retailers there are two very strong trends happening now through the Holiday Season. And they are remarkably divergent.
Two very different trends; that’s bifurcation.
And we think that’s a terrific strategic opportunity for you.
You need to boldly recognize the two separate trends for the next two months.Your strategic opportunity is to make them parallel, not divergent.
Remember, the “theatre of retailing” is an art form that the pros in the industry can attribute for much of their success.
And the “pros” come in all sizes, from the tiniest retailers to the largest.
They’re all owners like you.
Let's assume your stores have been closed for weeks now.
We recognize how conscientious you are. So, after paying what you can to your employees (and yourself), the next most-worrisome dilemma is your rent.
As you likely have discovered, a common choice for many landlords is to offer to defer your payments. But that means taking on more debt, as those payments are only being postponed to a later point in time.
You need a better solution than that.
As your stores are able to re-open after the coronavirus shutdowns, how they look tells a powerful story. And for you, a great opportunity.
This is no time to try to go back to normal, back to business-as-usual. Nor to simply have all kinds of protective shields in your store. While necessary, how welcoming is that?
Instead, this actually IS a second chance to make a good first impression! Take full advantage!
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.
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?!
Alas, there is really no way to avoid discussing COVID-19, the coronavirus that began in China last month, and now continues to spread throughout the world.
No matter whether or when it is officially declared a "pandemic," the uncertainty and angst that it is generating have troubling implications for retailers.
As we emerge from the pandemics, many retailers are eager to grow. (How's that for an understatement?!)
Trade shows are opening up with great success and eager buyers. Landlords are eager to fill vacancies, and in many instances, to cut deals. Vendors are eager to quit thinking about supply chain problems and start selling their merchandise, especially at trade shows. Plus, the continued growth and expansion of online wholesale marketplaces makes far more product available to retailers.
Then there is the access to capital. Lots of money is floating around out there
All in all, it creates an environment of exuberance. "Seize the opportunity" is the rallying cry. Indeed, for some retailers, FOMO – that Fear Of Missing Out – is pushing them to make some major decisions.
Still less than $1 a day! 👀