Stores and reps – take note!
If you haven’t heard of the very valuable gift industry newsletter called GIFTBEAT – you’re missing out.
Joyce Washnik started GIFTBEAT 16 years ago. It quickly became, and remains, one of the most important resources for information on the ever-changing gift industry.
From the hottest news to products worth watching, GIFTBEAT keeps you tuned in to which products are jumping off store shelves and which ones end up on the discount table. You get information that can help make your business more profitable.
GIFTBEAT accepts no advertising, so there are no outside influences on the information you rely on each month. You get information you can trust, completely free of vendor bias.
Joyce wrote a great article in the August issue that she has graciously allowed Collage to share with everyone:
Half Full – Or Half Empty?
It’s survival mode in Michigan, as a retailer there took the unusual step of holding a “Help Our Store” sale in June. Struggling with lack of cash flow and needing to jump-start his business, he mailed a postcard to 10,000 customers, asking them to come out and support the store. The response was enthusiastic – sales were up 30% for the week. His only regret was that he didn’t run the promotion longer.
Does he think others should try the same tactic? “In a small town, I think you can pull it off,” he says. “If you have a close relationship with your customers, I think you should be able to say, “Hey, I’m having trouble – come out and support us.’” Customers come in and said they were there to support his business. Many thanked him for reminding them to shop local, telling him, “We don’t want you to go away. We want you to stay in town.”
These are challenging times in the gift industry. In Atlanta, a show where reps and vendors are used to seeing sales increases, the phrase ‘Flat is the new up” quickly made its way through the market. Initially begun with a comical edge to it, the underlying message was crystal clear: With the show attendance down at least double digits, if you’re even with last year, you should consider yourself lucky.
Even with her average sale down about $20. an Alabama retailer is one of those who always looks at the glass as half full: “We refuse to give in to what the media says – we’re having a great year! We are keeping things new and fresh, changing things around and seeing great results from it. Keeping things in the same places and let shelves sit empty or even half empty and customers will quickly find new and exciting places to shop! The last thing you want to do is lose customers.”
Is your glass half full or half empty? The answer will likely determine what kind of year your business has.
Thanks again Joyce for letting us reprint GIFTBEAT’s Publisher’s Corner, Copyright 2008.
Please visit the GIFTBEAT website: www.giftbeat.com to read more and subscribe (we highly recommend it!) or call toll free: 800-358-7177.
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