It's in the Details

Someone recently asked us what specialty retailers are doing to succeed in the current economic climate. The truth is that everyone has their own method of survival. Continuing to serve a loyal customer base is one. Keeping an eagle eye on expenses is another. Sticking to an open-to-buy plan when at market is still another. Some retailers cut back on advertising dollars (not necessarily a good thing), while others change advertising vehicles or introduce new special events. Some are just lucky. They happen to be in the right location at the right time with the right merchandise. Many aren't so lucky, and are now either struggling to keep their head above water in a sea of vendors' bills, or have closed their doors for good.

The key to successful retailing is in the details. And the retailer who is detail-oriented is the one that will survive in this climate. Every issue of Gifts & Dec spells out many of these details, and this month is no exception. On the back page, we asked our retailer advisors what was the best lesson they learned. "Don't overbuy," "Use a POS system," and "Understand perceived value" were some of their comments. Details. Laurie Karzen and Charlotte Morrill write about two retailers (page 26) who took a hard look at their advertising campaign and narrowed it down to postcard mailings. Details.

Our 2003 Retailer Excellent Awards entries were filled with details. In this issue we present the four Visual Merchandising finalists (page 50). One is so detail oriented she stood outside her Florida store and counted foot traffic. Then she changed her window displays and counted again. Guess what? Her store traffic increased 75 percent. In Wisconsin, another retailer used bright colors on her storefront to attract car traffic roaring past on a state highway. More details. By mixing "the familiar with the unfamiliar" in an exotic setting, a Mississippi retailer entices her customers to get a little daring with their own home decor. And a California couple arranges their shelves so that each display takes on the quality of an artistic arrangement. The name of their store? Why, it's Zinc Details.