STORES Magazine - April 2008 - (Page 12)

CONSIDER THIS / EXECUTIVE EDITOR’S PAGE StORES® Making “Free” Pay Off BY SUSAN REDA STORES Magazine 325 7th St. NW, Suite 1100 Washington, D.C. 20004 202/626-8101 here’s a bold red circle around April 29 on my desk calendar. What’s the big deal? It’s Free Cone Day at all Ben & Jerry’s Scoop Shops. If you’re an ice cream junkie like me, it’s not to be missed. This year’s event marks the company’s 30th annual Free Cone Day. In the past, Ben & Jerry’s has given away more than a million free cones; this year, with the economy melting around us, they may break that record. In the war for consumers’ attention, “free” wins every time. Think about how great it feels to get something for free, and how, in most instances, you tell someone about it . . . a free T-shirt for participating in a charity event . . . a free sample of a moisturizer. Last month I got a free bouquet of flowers at Trader Joe’s; I lost track of how many people I told. With prices for just about everything rising, it may be time for retailers to rethink their “free” strategy. Is there anyone who doesn’t love the free food samples at Costco? My Dad likes to joke that lunch is on Costco once a month (but who’s he kidding – my Mom spends more than $200 per visit). The point is free product samples engender goodwill and often lead to a purchase — which is, after all, what retailers ultimately want. We live in a world where “free” is easy to come by. Using the Internet, people share photos, music, opinions, knowledge and advice – for free, every day. They read newspapers from all over the world — for free, every day. For those savvy enough to navigate the telecom waters, there’s free phone service. And, at many McDonald’s, Panera Bread and Starbucks locations, there’s free Wi-Fi. How can a retailer do “free” without feeling robbed? How about offering free advice? A specialty apparel retailer could designate one sales associate to offer free wardrobe advice to anyone with a question. I’d love to be able to go into AnnTaylor, tell someone what I feel is missing from my spring wardrobe and get some direction based on my coloring and body type. Yes, all sales associates are supposed to do this, but too often they’re tasked with other jobs: “Free” expert advice would need to be set apart. And how great would it be to not only get free advice, but a tiny perfume sample to tuck in your handbag, too. It’s what makes “free” memorable. Supermarket retailers could give out free apples to shoppers, or slip a free, branded shopping list notepad inside the bag. Research suggests that consumers will continue to buy essentials, even when the economy is on shaky ground. Now is the time for retailers to endear themselves to shoppers who are feeling like their gas tank isn’t the only thing on empty. A little “free” could pay off big. T RICK GALLAGHER Publisher Vice President 202/626-8103 FAX: 866/640-8136 E-mail: publisher@nrf.com SUSAN PATTERSON Assistant Publisher 202/626-8102 FAX: 202/661-3042 E-mail: pattersons@nrf.com EDITORIAL SUSAN REDA Executive Editor 516/437-1245 FAX: 866/640-8138 E-mail: editor@nrf.com HARRY LISTER Managing Editor 202/626-8199 FAX: 866/640-8137 E-mail: listerh@nrf.com MARY ALICE ELMER Senior Copy Editor 202/661-3047 FAX: 866/640-8134 E-mail: elmerm@nrf.com LUCY D. REDDAWAY Creative Director ADVERTISING & MARKETING MIKE GRIBBIN Advertising Director 410/893-8003 Kim Daniele Molly Deise Therese Draddy Dan McClure Tim O’Connell Executive Publishing Inc. 900A Main St., Suite 103 Bel Air, MD 21014 410/893-8003 FAX: 410/893-8004 E-mail: advertising@stores.org CIRCULATION ELENA CAIOLA Senior Director, Circulation and Information Management 202/626-8146 FAX: 866/640-8139 E-mail: circulation@nrf.com DORIS MASON Circulation Assistant 202/626-8172 FAX: 866/640-8140 editor@nrf.com For article reprints, including e-prints, please contact our Reprint Coordinator at Wright's Reprints 877-652-5295 or STORESreprints@wrightsreprints.com. At STORES, we appreciate hearing our readers’ thoughts and comments. Please address your correspondence to editor@nrf.com, or contact me at (516) 437-1245. 12 STORES / APRIL 2008 WWW.STORES.ORG http://WWW.STORES.ORG

Table of Contents Feed for the Digital Edition of STORES Magazine - April 2008

STORES Magazine - April 2008 Contents Executive Editor's Page President's Page More Retailers Bagging Monthly Comp-Store Reports Time-Warner Center's Economy-Defying Results What Shoppers Think 10 Things You May Have Missed Numbers Worth Counting Full Price/Markdown Retail People Eating Locally Grocery Concept2Watch Restaurants Online Services Marketing Human Resources Product Lifecycle Management E-Commerce: Peer Reviews Drive Online Buyers Kiosks Recycling Operations Payment Systems POS Logistics E-Commerce: Getting Personal Website Management LOEB Retail Letter Arts Update Point of View NRF News Retail Industry Calendar Last Laugh

STORES Magazine - April 2008

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