Holiday Season 2008 - There has never in my lifetime been a more defining time for those Mom & Pop Retailers whose whole livelihood and for many the survival of their businesses depend on the next three months.
Yet unbelievable as it may seem, way too many retailers I have talked to are NOT CHANGING THEIR THINKING OR STRATEGIES.
Too many retailers I have interviewed already see the handwriting on the wall and just shrug their shoulders and appear in a coma.
Most of these mom & pop businesses had a solid customer base at one time, but never even bothered to collect names & addresses or email addresses because "they will always come back - this shop sells itself.
" Are you kidding me? It does not take a rocket scientist to see that this economy has changed everyone's spending habits for now and the foreseeable future.
Retailers had better come up with a way to deal with the FEAR FACTOR gripping everybody these days.
THE REGULAR CUSTOMER IS NO MORE.
He or she is hoarding his money more than ever and only those retailers who truly satisfy his needs or desires will get one penny of his hard earned money.
A new upscale restaurant is opening in my neighborhood this month.
I bet if he could get a good chunk of his startup money back, he would go for it right now.
So what is the owner doing to overcome the current in our economy ? He is thinking outside the box with ideas things like these...
1) a new menu will be introduced every month 2) the owner eliminate stocking and spending for upscale dishes such as Lobster and buy more of the same beef for less 3) the owner will offer fewer menu choices 4) MOST IMPORTANTLY, the owner will Ask the customer what he wants - and then the owner will do his best to offer it on the next visit.
The customer has never been "THE KING" quite like this before.
So you other Retailers out there take notice - Scrap the same old script that you used with success every other Holiday shopping season...
This time the game has really changed and you had better change your thinking to be victorious.