Posted on December 23, 2008 by Dennis Snow
The newspapers are full of stories lately about the woes of retailers during this holiday season. No one is buying, stores are empty, prices are slashed (70% in some stores!). And yet, some retailers are doing quite well.
Check out a story in a recent Orlando Sentinel article titled, "Sales Aren't That Bad." The article highlights retailers who are enjoying a successful holiday season. There are a couple of quotes in the article that jump out:
"They credit factors such as knowledgeable sales staffs, unique offerings, and loyal customers for saving the season."
"Those retailers that are competing (i.e. doing well) likely have done a good job connecting with their customers and carving out a niche."
These companies are reaping the benefits of the work they've done all along to generate customer loyalty. When times are tough, we usually do business with companies we know, like, and trust. Price is certainly a factor, but trust is huge.
So, even though the economy is certainly challenging right now, it's good to see that some companies are being rewarded for their long-term efforts.
I wish you all a very happy holiday, and I look forward to continuing our dialogue in the coming year!