Helpful year-end tips for small and microbusiness retailers

Posted on | November 18, 2009 | Comments Off

We’re coming into the time of year where the National Retail Federation becomes my very best friend.

I know they want to be my best friend right now because they seem determined to stay in touch with me, judging from all the email they send.

Not that I’m complaining. I’m not a retailer but a lot of microbusinesses are. Besides that, the year-end holiday shopping season is always interesting and never more so than now, when the economy is doing that push-me-pull-you thing.

So, for that matter, is the retail industry. Which is why I was happy to share some forecasts and tips in my article, Looking Ahead to the 2009 Year-End Shopping Season, at the OPEN Forum Blog.

Go check it out. Then come back here and I’ll give you some updates from my NRF buddies.

According to the NRF, retail sales were flat in October from September numbers, while the Commerce Department recently announced that retail sales were up by 1.4% for the month. Clothing and accessories, and health and personal care were retail sectors that did well last month, while sporting goods/hobbies/books/music had a rough time.

And, of course, any retail category that had anything to do with housing did poorly in October.

What is interesting about that is the fact that, while the ‘official’ holiday gift buying season has not yet started, the fact is that almost half of consumers (47.6%) say they have already begun doing their Christmas shopping. And indications are that you retailers will need to stay on your toes in order to nail your share of the holiday shopping pie.

Here’s another timely indicator: According to NRF’s 2009 Holiday Consumer Intentions and Actions survey, conducted by BIGresearch, customers who will pay for purchases with either cash or check/debit cards is up by more than 10%. Conversely, consumers who say they will rely on credit cards to pay for gifts is down by roughly the same amount.

Analysts suggest that this is another indication of an American consumer who is determined to avoid going beyond their budget or running further into debt.

In many ways, of course, this stuff only reinforces what I wrote over at the OPEN Forum blog. Once again, I recommend that you go read it, especially you retailers.

This year’s holiday shopping season is likely to be very Darwinian survival-of-the-fittest type stuff in the retail sector. Be sure to give yourself all the help you can, so that you’re still standing when the dust settles in January.


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