A Happy Holiday?
Here everyone sits, perched on the edge of fourth quarter and waiting for holiday business.
It’s a bit nerve-wracking, to be sure, but there is good news.
I’ve talked to 15 or 20 retailers in the past month and almost to a person, they’re saying things are getting a little better. They are seeing a little up-tick in business.
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The Personal Touch
What a surprise! A new survey shows that online shoppers miss the personal experience of visiting a bricks and mortar store. And several forward-thinking luxury retailers like Chico’s women’s apparel are already working to add that personal touch.
Harris Interactive conducted the survey of 2,274 adults for a California company, IMShopping, a social media shopping firm, to measure how consumers feel about getting human assistance while shopping online.
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Small Business Borrowing – A Primer on SBA Loan Programs
The White House recently announced a $15 billion plan to ease the credit crunch affecting many gift and decorative accessories businesses. One program earmarks funding for loans and technical assistance by the U.S. Small Business Administration’s (SBA) “microloan” lenders.
In addition to extra funding for microloans, the new program will reduce small-business lending fees and increases the amount the SBA will guarantee on some small business loans. However, the new program does not stop there.
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Sharing Space and Ideas to Beat the Economy
Lisa Quall and Kelly Gasparich aren’t sure what business will be like when the economy rebounds, but they’re working overtime to make this challenging environment work for them.
A year ago, Lisa opened Elegant Clutter, a small boutique in Mill Creek, Washington, about 30 miles outside Seattle. Kelly joined her quickly and the two created a shop designed for women who enjoy making their homes beautiful.
Lisa and Kelly say much of the store’s success relies on attractive price points that encourage impulse-buying. They are determined to hold to their average price tag of $25 to $100 and rely heavily on IMAX products to do so.
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You Must Stay Alert
The rain was threatening and I was in a hurry. Grabbing the pen and ready to sign the receipt, I was stopped when the shop owner asked to see some identification. I dug in my wallet for my drivers license and waited while he examined it.
Annoyed?
Well, I was for a moment, I admit. Then he smiled and said, “Thanks, we’ve gotten a couple of stolen cards in the past few months and we just decided to be more cautious. It protects both of us, you know.” Yes, I do know.
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Create Your Own Economy
As home furnishings retailers and suppliers, many of us have learned how to weather the storms; we know the keys to capitalizing in a downturn; and we get the secret to succeeding where others will fail.
But to capitalize on our knowledge, there are a few do’s and dont’s:
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Expanding a Good Idea
Fast on the heels of my column last month about a small-town newspaper’s efforts to help retailers comes news of a bigger effort.
It’s called 3/50 Project and it was created by Cinda Baxter, a gift and home retail consultant. News has spread rapidly throughout the industry.
The concept is simple: choose three local businesses you would miss if they closed, visit them and spend some money with them.
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In the Eye of the Storm
As I write this, I almost feel our economy, and our industry, are in the eye of a hurricane. As you know, the early stages of a hurricane are usually followed by a calm period in the eye of the storm and then the inevitable slap of the backside of the storm.
Everyone knew in the fall and early days of the year our economy was headed for serious trouble. Now, as a new administration and many new brains try to figure out what to do, there appears to be a bit of calm while everyone waits to see what’s coming. Regardless of what happens, some people will believe in the plan and some won’t. The backside of our storm will simply be the time it takes for things to improve.
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Stepping Up to the Challenge
The best thing about Americans, I think, is our ability to pick ourselves up, dust ourselves off and start all over again, as the song says.
Admittedly, that may seem pretty difficult in these challenging times. But I’m beginning to see and hear indications that there is more positive thinking out there – and more people deciding to actually do something, not just worry and fret.
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Survive and Thrive
A Discussion on Maintaining a Successful Business in These Trying Times.
Bring together a group of retailers, vendors and sales representatives to discuss how the current economic climate is affecting their businesses and you get a very lively exchange. That’s what Gifts & Decorative Accessories and World Market Center Las Vegas did.
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