Captivate Them
By Maria Weiskott, Editor-in-Chief -- Gifts and Dec, 6/1/2008 12:00:00 AM
Oh, to be a gift retailer at an airport these days: a store with a captive audience ...literally. Just imagine the possibilities of having hundreds of consumers waiting for endlessly delayed flights, having nothing better to do than sleep in a chair, eat, drink and shop. It brings a whole new meaning to being a 'destination' store.
Okay, levity aside, a retailer really doesn't need to be situated at an airport to 'captivate' an audience — even during a weak economy and in the face of spiraling gas and food prices; not to mention consumer confidence at a 16-year low. And don't we know it.
For the past several months we've been conducting our exclusive annual survey among retailers that sell gifts and decorative accessories. (See “Today's Gift Retailer,” in this issue, pages 33–44) The report from the trenches: we're “holding our own,” which is more than Sears, Penney's, Sharper Image and a whole lot of others can boast. Even first quarter earnings of the world's largest retailer — you know who — fell short of analyst's expectations; this, in spite of the Big Box chain's attempt to spur sales by discounts as high as 30 percent.
Of course, we hear from retailers all year long – not just during our annual survey period. Often we hear from them in response to an especially compelling weekly poll — on our website, www.giftsanddec.com — that asks how they are coping in the current economic climate.
Our retailers are a spunky lot alright. One week we asked what they were thinking of doing to keep their heads above water. Choices included salary cuts, staff reductions and a few other drastic moves. It was not even an hour after the poll went live, that I started receiving emails from readers asking why I was so 'negative,' (Yikes!) and enumerating the positive things they were doing to ride out the weak economy: things like doing more advertising and marketing and holding more events. More, more, more!
It's no wonder our retail niche is winning the war of survival: our retailers are passionate, inventive and more (speaking of more). One particular email from a California retailer who opened her business in a tourist area eight years ago speaks volumes: “Even though sales are down, I hear we are not as hard hit as neighborhood stores dependent on repeat residents only. If sales get much lower, I may do home parties for my girlfriends. They have circles of co-workers, friends and relatives that may not get to my store. Women love to shop with others and enjoy good food and drinks at the same time!”
Now that, is a captivating idea.
We would love your feedback!
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