Shopping Cools: Bad News for the Holidays?

American shoppers held tight to their wallets for back-to-school shopping in August, and some observers are concerned this might mean an equally slack holiday season. Data from MasterCard Advisors, which look at various spending habits from credit cards, checks and cash payments, said spending in nearly every category was far short of the levels set in 2008. “Expectations about future business and labor-market conditions have brightened somewhat, but overall, consumers remain apprehensive about the future,” Lynn Franco, director of the group’s... 

Summer Discount Promo

Summer is traditionally the slowest period of the year for many independent retailers. To combat that problem, last year some local merchants in the Yuma, Arizona area came up with the, “$20 on the 20th,” campaign, a promotion in which many of the area businesses advertised special offers on the same day, July 20, in a concerted effort to lure customers into their establishments. This year, the $20 on the 20th campaign was put into action once again, with the sales of some local retailers getting a boost. Three days prior, on July 17,... 

Hobby Shop Going Strong

Dannie and Opal Slavin have owned and operated the Family Hobby Center in Naples, Florida since 1965. They got their start after buying up the inventory of a former Naples hobby store, and haven’t looked back since. The Hobby Center means everything to them, and for years they’ve put the store’s profits back into the business. “You can make more money selling stuff than you can working with your hands,” says Opal Slavin, 87. More than just a source of income, hobbies are both a passion and a pastime for the Slavin... 

Retailers Must Reach Out

Retail managers need to change their corporate culture if they want to make the most of all their assets, whether digital or physical. That’s the conclusion of a new study conducted by Retail Systems Research, in partnership with the National Retail Federation. According to the study, “Creating a single brand identity across all channels,” remains the top opportunity for most retailers. The study, titled, “The Cross-Channel Wake Up Call,” focused on how retailers can achieve the goal: Learn about emerging consumer... 

Retailers Grapple With Credit

The Atlanta International Gift and Home Furnishing Market is one of the biggest market expos of its kind. Retailers from all over the world converge on the event to order products, and in July the event also featured a Retailer to Retailer Breakfast Seminar, where several leading independent retailers gathered to discuss market trends, professional development and industry practices. The interactive event was hosted by the Gift and Home Trade Association (GHTA). One of the things they agreed on was that retailers can’t survive without credit... 

Consumer Confidence Rises Slightly

The Conference Board’s Consumer Confidence Index which had declined in July, improved moderately in August. The Index, which now stands at 53.5 (on a base of 100, established in 1985), is up from 51.0 in July. Says Lynn Franco, Director of The Conference Board Consumer Research Center, said in a release “Consumer confidence posted a modest gain in August, the result of an improvement in consumers’ short-term outlook. Consumers’ assessment of current conditions, however, was less favorable as employment concerns continue to weigh heavily... 

Paradigm Shift: Shoppers Waiting ‘Til Payday

In a new habit seen by some as the way things will be going forward, consumer-products makers say shoppers are now waiting until payday before making purchases, forcing retailers to re-think their current marketing plans. According to The Wall Street Journal, “The so-called ‘paycheck cycle’—where shoppers make purchases in tandem with salary checks or government payouts and then pull back on spending as they run out—became more prevalent at the height of the recession. But many consumers are stubbornly sticking to that buying pattern... 

Survey: VAT Increase Would Cut Consumer Spending

As if retailers don’t have enough to worry about these days, now a proposal from Washington may impact consumer buying if it’s enacted. According to a survey conducted for the National Retail Federation by BIGresearch, “nearly two-thirds of those surveyed – 64 percent – said a federal Value Added Tax of any amount would impact their spending on everything from cars to homes, groceries and medicines. If the government imposed a VAT of 15 percent and applied it to all purchases, 92 percent said their spending would be affected.” The new... 

Retailers Chasing “Bottom (Line) Feeders”

In addition to slack sales and dwindling customers, many retailers are also now being faced down by savvier consumers who are shopping for — and finding — the lowest possible price. But there are steps that store owners can take to regain the upper hand, the Wall Street Journal reports. The Journal offers eight suggestions for retailers to stay one step ahead of today’s smarter buyers, including using technology tools to discourage those who take unfair advantage of promotions, bundling products to enhance pricing, and other similar methods. For... 

Some Good News: Back-to-School Shopping Lists Getting Longer

For parents doing back-to-school shopping this year, retailers would be wise to add numerous, unexpected items to the list of available offerings. According to a published report, beleaguered school districts are asking parents to send their kids to school with garbage bags, plastic cutlery and even toilet paper. DrugStoreNews.com reports “reductions in funding for school districts across the country because of lower tax revenues and spending cuts have forced many school districts to add a host of unexpected items to Junior’s must-have list... 

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