Retail Turnaround Experts
  • Home
  • Expert Perspectives (Blog)
  • Three Stages of Retailers in Decline
  • Turnaround Experts
    • Who Are They?
    • How Do They Work?
    • When to Call Them
    • Bios | Credentials
  • About Their Work
    • Some Recent Clients
    • Projects by Client Type, Size, Location, etc >
      • Crisis Management | Turnaround
      • Assessments | Action Plans
      • Financial Restructuring
      • Growth Management
      • Owner Issues | Transition Management
    • What Might It Cost?
  • Tips | Tactics | Resources
    • Four Stages of Retail Turnarounds
    • Top 5 Reasons Why Retailers Fail
    • Retailers: How to Cope with a Cash Crunch
  • Contact Us

What's between your ears? Opportunities!

10/26/2020

 
Picture
Since we first established The Retail OWNERS Institute®, we have asserted that the greatest growth opportunity in retailing is between the ears of the owners. And nothing since then – not even (or maybe especially!) –  a once-in-a-century pandemic has diminished our belief. 

Independent retailers and restauranteurs have been among the first business owners to pivot to a survival mode. Why? Because they have had plenty of practice! 
  • Change is the name of the game in retailing.
  • Independents in particular have been beset for years by the changing dynamics, whether it was regional malls, lifestyle centers, category killers, Amazon, and now the election, or whatever. 
"Retail Darwinism" has been thinning the herd of retailers for many years. Who has survived? Those who are most adaptable. And now. they have less competition.

As the Covid virus persists and resurges, retailers still are finding ways to survive. How? By keeping their connections with their customers.

The combination of enhanced online presence plus ready access to your knowledgeable staff people, carefully edited selections, a safe shopping environment, very charp- markdowns on clearance merchandise, an array of ways to get the merchandise to the customer, and as always a cheerful presence is especially welcome. 

As we approach the Holiday shopping season, there will be differences in what people buy. Less travel, fewer "experiences," smaller family mealtime gatherings suggest more money going toward home furniture, appliances and accessories, at-home apparel, or books, or specialty cookware, plus of course electronic devices. 

But the overarching theme of this season will be ingenuity and community. Expect a marked increase in Holiday decorations. More community support and outreach.

The warmth, genuine concern, and sense of fellowship of the Holiday season will be magnified this year. All to the good!

The trio of pandemics have brought a new warmth and awareness for family and friends. And as always, retail is a mirror of society. 
©Outcalt & Johnson: Retail Strategists, LLC and The Retail Owners Institute®

Comments are closed.

    The Perspective of Retail Experts

    All
    Culture
    Financial Strength
    General
    Inventory Management
    Leadership
    Owner's Responsibilities
    Pandemic
    Perspective
    Retail Growth
    Retail Projections
    Strategic Opportunities
    The Economy

Objectivity. Choices. And Action! 
Have questions? ​Let's talk. ​Give us a call.
Contact Us NOW - Here's how
©Copyright, Retail Turnaround Experts and Outcalt & Johnson: Retail Strategists, LLC.