PERSPECTIVES

From The Co-Founders

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Tips, Tactics & Strategic Insights and Commentary
from The ROI Co-Founders, Pat Johnson and Dick Outcalt
Outcalt & Johnson: Retail Strategists LLC; Retail Turnaround Experts

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Pursuing That Wily Perspective

Keeping Perspective

Is there a more difficult everyday challenge?

As owners of businesses, we've got all of the issues of the times right on our plates. Think about it:

  • Every family has ups and downs. In fact, every person does.
  • And it seems that all of our constituencies – family, friends, neighbors, customers, employees, landlords, lenders, vendors – look to us for answers, for leadership. "Well, after all, you are the owner!"
  • Meanwhile, the covid turbulence has magnified the fact that there's really no how-to manual for dealing with a wily once-in-a-century pandemic.

Is there a more difficult every day challenge than maintaining perspective? We don't think so.

Amidst all this, we were struck by a tweet* that was posted mid-afternoon New Years Eve:

  • This saying, from the Black church…
    “Lord, we ain't what we oughta be. We ain't what we want to be. We ain't what we gonna be. But, thank God, we ain't what we was."

Indeed. As 2022 begins, most retailers can say "we ain't what we was."  In fact, most retailers are better now!

Want proof? Take a look at the Key Retail Benchmarks on The ROI site.** Just look at the trend charts for each benchmark ratio.

While there are exceptions, we believe that these latest Benchmark numbers show the most extensive and significant financial improvement since we have been tracking these numbers for you. 

More important, get perspective for yourself. See your own ratios (there's a free online calculator that makes it easy), and compare to your own last year. And the year before. 

Very likely you too can say...

  • “Lord, we ain't what we oughta be. We ain't what we want to be. We ain't what we gonna be. But, thank God, we ain't what we was."

Yep, we're better now. Ahh, perspective. Onward to 2022!

---
* @MaraGay, New York Times editorial board. Dec 31, 2021, 3:08pm

** Key Retail Benchmarks, Five Year Trend Charts

Related Articles

  • 2025 Grfx/Cust Perspective.png

    Details That Drive the Perceptions That Matter

    Let’s take a break from the drama of the business and economic news, and its uncontrollables. It's time to put the fun back into retailing!

    Remembering that "Retail IS detail," focus on attracting and appealing to your very best customers.

    And we have the (free!) tools to make all this happen. But be ready: surprises and new insights will emerge. 

  • COVID-19 thumbs/Qmarx.jpg

    Is 2022 Really That Confounding?

    Embracing Uncertainty: The Essence of Retailing

    "The mantra of 2022 should really be: No one knows anything," opined a business reporter.* "It’s stunning how little we understand about how the pandemic has changed our lives and our country. It’s not clear whether the U.S. economy is hot or not, or if big cities will be forever scarred." 
    • "The future of our online shopping habits is another unknown. This is not just a nerdy debate. Our collective buying behavior sways trillion-dollar companies, millions of retail jobs and the health of the U.S. economy." 

    • "The uncertainty about the direction of online shopping is one of the biggest questions facing the tech industry and financial markets right now."
    Well yes, of course. The tech industry and the financial markets do prefer predictability. The uncertainties of retailing always have bedeviled them. And now, with Amazon's recent retrenching, backing off some expansion, their crystal balls have turned cloudy. 
     
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    Time for That Springtime (Upbeat) State of Mind

    According to the calendar, as of March 21, it officially is springtime. No matter what the weather is doing.

    Well, it's time to bring the calendar to real life! Spring is really a state of mind! The dark winter has passed. Even the rain is warmer in the spring. And new growth is beginning to sprout; leaves are coming out. It's a wonderful, fresh outlook.

    And that of course means it is a wonderful opportunity for retailers to refresh and reenergize their stores. 

    No matter what merchandise you sell - whether it's tires, apparel, books, housewares, office supplies, whatever - every retailer is in the fashion business.

    And that means that your customers are wanting what is new and fresh.You know; "in fashion."

  • Embrace That "New Year State of Mind!"

    We once knew a lady who steadfastly championed the idea that Labor Day should be considered New Year's Eve, and the Tuesday after Labor Day as the start of the New Year. (Yes, she was ahead of her time in many other ways as well.)

    Here's her reasoning about the "real" New Year's Eve: as summer fades away and vacations end, the new school year starts up; the baseball season pennant race is on; football games begin. 

    As all this happens, she explained, most people take on a renewed sense of energy. 

    The promise of a fresh start is everywhere. Optimism abounds!

  • COVID-19 thumbs/NewsHeadlines.png

    It's not just the clocks that changed

    "Retail is a mirror of society."

    Yes, Daylight Savings began a couple weeks ago. But it's not just the time on the clocks that changed; the times themselves have substantially changed. 

    Followers of The ROI has heard us assert many times that "Retail is a mirror of society." As we reflect on the first quarter of 2022, we are struck by how much has changed in just those three months. And retailers must adapt – yes, again! – to this rapidly changing environment.

    Think about it. Consider the assumptions you made just a few months ago, in late December and early January about 2022. 
  • COVID-19 thumbs/BlueKettleBooskstore.png

    In Pursuit of the Wily Customer

    photo: Greg Gilbert/Seattle Times

    Recently we read of a "bookshop on wheels" launched by a college English instructor. While certainly not the first retail variation on a food truck, this one has gained praise for its authenticity. 

    "What’s most surprising when you walk into Blue Kettle Books for the first time is how cozy and, well, bookstore-ish the tiny space feels."*



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