A reader asks, “Should I be worried about building an online component to my business?” See how our merchandise planning and strategy expert Steve Pruitt answers.
Consultant Steve Pruitt discusses the possibility of a “double dip” recession and how it might affect retailers. Based on what you’re seeing, how likely is a double dip at this point? When would you expect retailers to feel the effects? A double dip is possible, but not likely. A lot depends on what is going […]
Q: I’ve seen some of the big department stores marking down early fall merchandise. Is this a promotional trend, or will fall be softer than previously expected? A: There are a few large retailers who ask customers to sign up to buy fall merchandise early for a discount. This is a regular planned promotion and […]
Q: I haven’t seen any really exciting product for fall. How can I drive sales with the same old, same old? A: As merchants, we constantly need to be looking for new product because newness drives sales. There will always be new things, but I understand what you’re saying about fall goods not being as […]
Q: I understand that prices are going up, but how should that affect my buy as we go to market? How do you think consumers are going to react to price increases? A: Their reaction to the price increases will likely depend on whether vendors change price points—meaning they go up by a few dollars—or […]