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.
- 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." We're better now!
Want proof? Take a look at the Key Retail Benchmarks on The ROI site.** Just look at the trend charts for each 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. Calculate your own ratios, 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