STORES Magazine - February 2009 - (Page 24)

EXECUTIVE SUITE / COVER STORY BY SUSAN REDA, EXECUTIVE EDITOR irst, the good news. Consumers say they can’t live without their Internet service or their basic cell phone and cable/satellite TV service. Shopping for apparel at the local discount store appears poised for a comeback, and consumers will continue to keep up appearances with trips to the salon or the barber. Now, for the glass half-empty perspective. Beset by today’s brutal economy, shoppers say they’re pretty sure they can live of shoppers without luxury handbags, satellite radio, specialty apparel consider shopping and high-end cosmetics. satellite radio BIGresearch and STORES conducted exclusive customer re“expendable” search in mid-December to determine what shoppers consider to be untouchable (suggesting they cannot live without it) and what they perceive to be expendable (meaning they can live without it.) The results are both striking and sobering for retailers. older who were surveyed considered their Internet service “unWith American consumers struggling to pay bills, avoid foretouchable” came as little surprise to Rist. closure on their homes and hold on to their jobs, spending pri“With budgets tightening and consumers not eating out or orities have shifted toward more basic items and services. shopping as often as they did in the past, the Internet takes on Shoppers appear willing to do without a lot of the stuff they greater importance. It’s not just about social connections and regarded as “must-haves” as little as a year ago. Having a entertainment; it becomes the tool that provides information monthly facial – a treatment many women once on how to manage expenditures. Shoppers will considered essential – is a luxury they’re willing rely on the Internet to search for deals and to reEXPENDABLE to forgo. On the other hand, expect long lines at search how to do things for themselves that they the local fast food restaurant as customers who may have paid someone else to do in the past – traded up a few years back get reacquainted things like cutting the grass or brewing their cofwith quick service and drive throughs. fee. “Shoppers are making a conscious decision to be careful about expenditures,” says Phil Rist, Looking for deals vice president of strategy for BIGresearch, headnternet retailers could be winners in this quartered in Worthington, Ohio. The fact that tough climate, according to Rist. 81 percent of the more than 4,100 adults 18 and “ reported its best holiday [sea- F 91% I 24 STORES / FEBRUARY 2009 WWW.STORES.ORG http://WWW.STORES.ORG

Table of Contents for the Digital Edition of STORES Magazine - February 2009

STORES Magazine - February 2009
Executive Editor's Page
President's Page
Are You a Pusher or a Puller?
What Shoppers Think
Online Retail Satisfaction
10 Things You May Have Missed
Numbers Worth Counting
Full Price/Markdown
Retail People
Cover Story - Something’s Got to Give
First Look
Online Partners
Inventory Systems
Drug Store Systems
Business Intelligence
Inventory Managment
Online Marketing
Supply Chain - Better Data, Better Decisions
Returns Management - Identifying Fraud
Data Security - Securing Intimate Data
Anti-Shoplifting - Mall of Shame?
Risk Management - Securing Consumer Confidence
Loeb Retail letter
ARTS Update
Point of View
NRF News
Retail Crossword
Retail Industry Calendar
End Cap

STORES Magazine - February 2009