Blog Archives

Buyers Beware!

4/26/2021

We often caution that many vendors are so much better trained at selling than retailers are trained at buying. In their eagerness to grow sales, and the associated promise of thereby growing profits, it is all too easy for retailers to become overbought. Instead of higher profits, they can find themselves in a cash flow crunch.

And that was in Before Times, before the pandemics. Throughout 2020 and continuing now, vendors and retailers alike have increased their online capabilities. Ordering online brought new challenges to buyers and sales reps, but also saved time and improved access.

We have applauded these advances in technology, but...

Might Higher Margins Be Available?

4/19/2021

Here's a post-pandemic strategy that should not be missed: higher margins!

Not the entire store, of course; you must be a merchant here.

But think about it: many shoppers have increased savings, reduced debt, or gotten their job back. Maybe all three.

And after months of being at home, and spending on home improvement and groceries, many shoppers have pent-up demand to spend on items they have had to postpone, like for themselves. Whether that would be in a restaurant or in a specialty store, shoppers are more willing and able to spend. (And some even feel entitled to spend.)

"On the selling floor, from 11 to 4"

4/12/2021

There's a lot of optimism in the air these days.

Covid-19 lockdown restrictions are being eased. More people are becoming vaccinated. Upbeat economic news is reported. Unemployment figures are improving. Restaurants are preparing for diners to return. And of course, given that we are now starting to compare sales results to the meltdowns of 2020, dramatic percentage growth is being reported and forecast for the balance of the year.

These positive and optimistic news reports all are very welcome. Retailers are eager to see customers return.

But what should retailers expect? To brace yourself for the myriad changes.

Buyers Beware!

Might Higher Margins Be Available?

"On the selling floor, from 11 to 4"

Tips, Tactics & Insights from Retail Strategists