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Doom and Gloom? Not so Much…We Sell Gifts
March 12, 2008
It used to be that every time I picked up a newspaper and read about the rough retail road ahead, or watched Talking Heads blab about the soft retail landscape, I’d get that familiar dull ache in the pit of my stomach. You know the one. It’s part of the prehistoric fight-or-flight warning system.
I say it used to be. But these days – not so much. No, I didn’t stop reading the dire reports, or stop watching commentaries featuring retail pundits. The dull ache seemed to disappear somewhere between the Atlanta International Gift & Home Furnishings Market and New York International Toy Fair.
While the Fed was aggressively lowering interest rates and big boxes were realizing they had a disappointing holiday selling season; while mass marketers were lowering annual revenue expectations and others were preparing Chapter 11 filings, gift vendors were reporting one of their best market seasons in years. Even the toy industry, which suffered one of the biggest PR nightmares possible – toy recalls numbering in the millions – last month enjoyed an enormously successful Toy Fair by all accounts.
Yes, hundreds of thousands of independent retailers flocked to markets and trade fairs with healthy open to buy accounts looking to restock their shelves, at the very same time analysts were forecasting a bleak outlook for retail.
It’s a good thing independents were too busy shopping for product to read their horrorscopes. But then, independents really can’t be painted with the same broad analytical brush anyway; there is just no way to accurately collect and report their sales figures or their revenues.
Yup, more than ever it’s especially good to be independent and to be distanced from the ‘other’ retail -- and in more ways than financially. It’s especially good to have unique products, to deliver real service and to have personal relationships with customers. And that’s what consumers know they know they will get from an independent retailer. When shoppers have a limited amount to spend, they want to spend it with care, with someone they trust.
There is no doubt we are in a difficult economic period and we do need to be mindful of that. But this is no time to lose heart, which is the very essence of our business.
We sell gifts.
Our customers my not now be able to buy new appliances, new furniture, new spring wardrobes or redecorate their homes; but they will always buy a gift.
Gift-giving is one of the oldest recorded traditions that exists; probably as old as that fight or flight response. And it’s not going away any time soon.
To be an independent gift retailer is always a good business to be in – even in difficult times. Maybe especially during difficult times, considering the rewards of both receiving and giving.
Posted by Maria Weiskott on March 12, 2008 | Comments (2)
