STORES Magazine - December 2008 - (Page 23)

The one thing no one wants is for shoppers to zip their purses shut and tuck their cash under a mattress. ing for lower-price versions. That’s all good – as long as they keep spending. The one thing no one wants is for shoppers to zip their purses shut and tuck their cash under a mattress. Private-label apparel sales are likely to decline over the next 12 months. At one time high-end retailers relied on manufacturers to make product just for their outlets. Not anymore. There is plenty of merchandise to be found at lower rates – assuming you’re a good negotiator. Another reason for the predicted slip in private-label sales: Vendors are cutting deals just to assure that retailers keep carrying their lines. Time – or, more precisely, the lack thereof – remains an ongoing consumer pressure point. Retailers need to be sensitive to shoppers’ need for speed and their desire for price value without compromising their own values along the way. Remember: Shoppers’ memory of an experience – whether it’s in a store or online – becomes the product; their recollection of the shopping experience lingers far longer and has far greater impact than the good feelings linked to a specific purchase. • Today’s shoppers are “information omnivores.” Satisfying shoppers in 2009 will come down to finding ways to provide in-depth access to product data. • Consumers want to provide feedback about a product one day and read comments and reviews another. Give them a voice in goods and service – and don’t forget to listen to what they have to say. • Look for consumer electronics, small household appliances, cookware and items that convey a WWW.STORES.ORG sense of home and hearth to resonate with shoppers. • Retailers that give shoppers permission to buy by offering creative goods and services will connect with consumers. • Empathize with your customers’ hassles and struggles; gestures of kindness are truly appreciated – not to mention upbeat conversation starters. And what’s that they say about the viral effect of positive feedback? IT spending will inch upward, but the “do more with less” mantra will trump the quest for unplanned initiatives. anaging the risks associated with various security projects, and looking more closely than ever at the risks associated with outsourcing, will continue to be at the top of most retail agendas for 2009. Expect the list of priorities that may have been four or five lines deep to be chopped in half and the projects that make the cut to be those that hold the greatest promise for a swift return on investment. M STORES / DECEMBER 2008 23 http://WWW.STORES.ORG

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

STORES Magazine - December 2008 Contents Executive Editor's Page President's Page Wrap Rage Unraveled What Shoppers Think Courting a Comeback 10 Things You May Have Missed Numbers Worth Counting Full Price/Markdown Retail People Cover Story: Navigating the Road Ahead Website Strategy Concept2Watch Online Customer Service International Marketing Green Retailing Online Merchandising Signage Operations Online Strategies Pricing Strategy Kiosks RFID Human Resources Loeb Retail Letter ARTS Update Point of View NRF News Retail Crossword Retail Industry Calendar Last Laugh

STORES Magazine - December 2008

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