Trends and No Trends

The stories coming out of retail-land these days suggest an industry without direction. Consumers are still buying, but, apparently, only at discounters such as Wal-Mart and Costco. Even one of the largest discounters, Kmart, recently filed for bankruptcy. The Museum Company also filed for Chapter 11 protection, and Service Merchandise, after operating under Chapter 11 for the last two years, is calling it quits. Department stores and apparel chains are struggling. It hasn't been easy for the big guys.

There is a case, however, where one of the big guys is seeking redemption by changing its focus. John Eyler, chief executive of Toys R Us, says, "Customers do not live by price alone. As long as your prices are reasonable, if you provide lots of other benefits to shopping in your store, people will respond." His company is undergoing a major restructuring, closing 64 stores and converting 700 others from the impersonal warehouse style to cozier, carpeted spaces. Toys will be identified by category as well as by brand, and employees will spend much more time assisting customers. The program is called Mission Possible. Sound familiar? Attracting consumers with reasonable prices, the best customer service, and an appealing environment is, of course, the hallmark of specialty retailing.

One way a specialty retailer can usually get the cash register ringing is to jump on the latest trend bandwagon. Currently, however, there is no one real trend in decorative accessories, as we point out in our cover story, "Anything Goes," page 34. Rather, consumers are making personal choices when it comes to home decorating, mixing and matching styles. That leaves the specialty retailer with a lot of options. You can tailor your store's merchandise to fit your image and your customer's profile without worrying about missing out on any "trend." While the retail industry may have lost its direction for the moment, there's no reason why you, the independent retailer, can't set a course and determine your own direction.