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Beware the Perils of Exuberance

3/22/2021

 
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Isn't it great? Headlines and the media world seem to be in unison; the dastardly COVID pandemic is being arrested. And, if we can believe the pundits, pent-up shoppers are about to buy all sorts of products and services with abandon.

But, will they?

Given this exuberance, many retailers could be building up excess inventory. Retailers once again need to be true merchants. That is, the #1 responsibility of retail senior managements must always be to control inventory. (It's the only thing that makes money, but it soaks up cash.)

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Time to Choose, Retailers. And Choose You Must!

3/15/2021

 
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As we approach April of 2021, the question for retailers is "Now what?" Having survived 2020, in many cases on guts and guile, we must now focus on how best to survive 2021 and beyond.

As having one foot on the dock and one foot in the boat, the future of retailers in that Red Zone is not a pretty picture. 

Granted, there is much talk about the expectation that "convenience" will become a major factor for shoppers going forward. And we don't disagree. 
  • Throughout 2020, millions of shoppers – including the older Baby Boomers – discovered the benefits of online shopping. Then, as brick-n-mortar retailers scrambled to survive, the increased availability of delivery, curbside pickup, BOPIS (Buy Online, Pickup In Store) and BORIS (Buy Online, Return In Store) has been well received by a broad swath of consumers. 
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Here's the deal: We see that this has brought heightened awareness of two different retail strategies: Convenience Retailing versus Destination Retailing. 

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Main Street Business "Survivors" Offer Vital Lessons

3/8/2021

 
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The just-released "2021's Main Street Business Survivor Study" from the Pandenomics series conducted by the PYMNTS.com folks* focuses on the"Main Street Survivors:" those small to medium sized businesses "that have weathered the pandemic's fallout." Vital lessons.

What have these "survivors" done differently than the rest of SMB businesses? Here are the major findings of their study. We think that you'll see many of the survival steps you have taken, or be prompted to adopt some others. 

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