The Power of Retail

Setting up a house is a work in progress. Just when you think you’re getting done, you realize there is something else that needs your attention. Even though the building is relatively new, we’ve been having constant problems with the plumbing systems and find that the only alternative would be to change all the fixtures in the bathroom, and install something with Delta faucets that you can be assured of not leaking or dripping etc. We’ve been trying to get everything fixed, but each time one thing works, something else gets broken, so the best alternative would be to change everything. Quite a task, but looks like it just has to be done.

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High back-to-school sales are likely to lead to a relatively tame holiday season for teens. According to the National Retail Federation, sales have been forecast to rise just 4% in November and December 2007, coming to $474.5 billion which is below the 10 year average of 4.8% growth. Scott Krugman, NRF’s vice president states that “The economy is in a different state than it was in last year. With the credit crunch on the horizon, the housing market in bad shape and the decrease in the job market, the economy is weak right now.”

TNS Retail has also predicted a slower growth rate of 3.3% compared to 4.6% last year. RBC Capital Markets survey suggests a “plunge in consumer confidence” which will lead to lesser spending on holiday shopping.

While back-to-school shopping has been later this year, due to several states starting school in August this year, September sales are also likely to be rising which will lead to lower holiday spending. Shoppers who have waited to buy back-to-school merchandise will also be able to buy all the latest winter wear, cutting down on these items from the holiday shopping list as well.

The last-minute nature of back-to-school shopping also suggests that consumers have caught onto the now-accepted holiday rule that the later in the season they shop, the more discounts they can take home. “People started to play back-to-school like they’ve been playing the holiday season for the past few years,” explained Eric Beder, retail analyst with Brean Murray, Carret & Co. “They’ve waited for the last minute when the sales are deeper.”

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There are a lot of things that make life harder and lots of things that make it simpler, like these Ingersoll Rand air tools, right? It’s all a question of perspective, isn’t it? I like to think it is and that somehow all the toughest things in the world can be made easier just by tackling them the right way, and having the right tools makes all the difference. While I might not have too much experience with advanced tools, I do know what a difference it can make.

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Almost time for my trip back home, so there seems to be a lot of work to do all of a sudden. I didn’t think I would be making a trip back so soon after coming, so am barely settled myself and need to do some shopping for things to take back and things to buy for the home while I am away. Alng with all of this I have to finish off my work before I go home as well, since I definitely do not want any work to do while I am away.

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There’s something about fixing things and tools that make you really feel like you can accomplish something right? I love being able to fix things around the house, even though I can’t do any of the complicated things, it is nice to have a set of body shop supplies, that can come of help every once in a while. With so much advancement in technology, it feels good to go back to something more basic, I feel.

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The thing about blogging is that once you get started and create a niche of your own, it is really quite hard to get away from it. Writing about retail has been something that I have really enjoyed and to be able to do it on a daily basis is even better. Retail is a field that you can make as complicated as you want to, but the fact of the matter is that all you really need to do is to understand the customer and the product or service. Everything else stems from that and unless you get that right, it’s not going to be a successful venture. The trick is to see retail from a consumer’s standpoint and not only from a store owners view.

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The trend for looking good and promoting yourself has never been bigger than it is right now. There are all types of products, treatments, pills and procedures that consumers are lapping up in an effort to get into the best shape possible, probably inspired by celebrities. One such product is Miracle burn which is gaining in popularity with the young set of celebrities and stars. As soon as any celebrity is spotted using any such product, it becomes the hottest selling item, showing just how much the average consumer is influenced by their favorite celebrities.

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Retail as an industry is going through a lot of changes at the moment, as consumers test out a host of new ways to purchase products. The concept of longevity of products has changed the way consumers decide on purchases, since it’s no longer a good thing that a product will last 10-15 years, since as a society we are constantly changing ourselves and want all around us to change and be updated as well.

So, retailers who sold things based on how long they would last, need to come up with a  different strategy, one that will entice today’s shoppers. Consumers are also deciding more of their purchases based on price now, as the Internet has made comparison shopping so much easier than ever before. It’s actually all about understanding the customer and predicting what they will do next and if seen in the right way, it really can be a lot of fun.

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One of the most fun parts of shopping online, is getting to use some really amazing coupons that are only available to online shoppers. Saving time as well as saving money really is a winning combination and one that is hard to resist. I especially love buying books online, since one can save quite a bit of money this way. There are always some great BooksAMillion coupons available at Coupon Chief and I just can’t resist them.

My other favorite online shopping sites are for jewelry, where I love to browse through their selections to find exactly what I want. I found a special Ross Simmons deal which gave 20% off a purchase along with free shipping on all orders of above $500, which is a pretty great deal. It certainly caught my attention and I spent quite a bit of time looking for pendants there. With the holiday’s getting closer, it just makes sense to start doing all the shopping a bit earlier, especially when you can get some excellent deals.

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Borders will be launching its own e-commerce site to sell books, music and movies, which it hopes will complete with Amazon.com effectively. Te new site is set to come online in the first quarter of 2008, although there is a beta version of the site online. Borders closed its online store in 2001 and conducted all its sales through Amazon.com, an arrangement that will be ending in April 2008.

It’s new site is expected to have over 2 million SKUs and will use the latest technology that will be provided by ChoiceStream for its recommendations to shoppers for online stores as well as in-store searches. Using this system, shoppers will be able to add items to their shopping carts, confirm orders and even personalize their shopping experience by creating a profile.

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