PERSPECTIVES

You've no doubt seen the headlines and the commentary:

• "Retailers Stumble Adjusting to More Selective Shoppers" *
   
• "Consumers Uneven Spending Fuels Caution Among Retailers" **

Consumer spending is up, but not on what was expected, especially those publicly-traded chains that must report quarterly. 

• "As people watched the prices of food and gas rise, their spending became more selective, leaving retailers with shelves of inventory they couldn’t get rid of." * 
   
• "Although some consumers are cutting spending on goods, it is being accompanied by increased spending on services," according to Mark Zandi, chief economist of Moody's Analytics. **

It doesn't make any difference if you're selling tires, turbans or tuxedoes. 

Poor prior planning produces pitifully poor profits. 
(You can take that to the bank!)

We came across an article on this checklist theme for the rapidly approaching fall/Holiday season. 

Artful Idea for Retention Bonus

The playing field has shifted dramatically under the feet of retailers. 

Merchandise orders placed months ago are now proving to be "too much stuff that consumers no longer want so much of,"  as was reported rather colloquially just 3 days ago.  All this was summed up this way: "Retailers with slower inventory turns might find current conditions especially difficult to navigate." *

Now, look at the chart at the top of the page. Without being dramatic, it may be a lifesaver for your business this year. 

photo: Greg Gilbert/Seattle Times

Recently we read of a "bookshop on wheels" launched by a college English instructor. While certainly not the first retail variation on a food truck, this one has gained praise for its authenticity. 

"What’s most surprising when you walk into Blue Kettle Books for the first time is how cozy and, well, bookstore-ish the tiny space feels."*

Just this morning we saw yet another article speculating about the staying power of online shopping, in this instance, grocery shopping. 

• "Right now, the direction is … unclear," admitted the reporter.* "I have been scouring data on online grocery shopping in the U.S., and I will be humble and say that I don’t have a clear picture."
• "My wishy-washy analysis is that Americans haven’t fallen head over heels for buying bananas over the internet, but we aren’t rejecting it, either."

Of course, it's not just media pundits who are looking for answers to this question about online versus in-store shopping. Retailers are living with this issue, and they have to make decisions. 

Ready to add a bit more fun to your store, AND generate incremental sales? Consider this friendly Tortoise, a "tap to pay mobile smart store."

Here's how it works. You choose items to sell that can be boxed, and held at room temperature. Maybe it's a dozen cookies. Or a book. Coffee mugs? Mobile phone rechargers. Whatever makes sense for your store. (And apparently, higher priced goods do especially well.)

Place the boxes into a Tortoise container that has colorful graphics of what's inside and the price per box, and send the Tortoise on its way.

Spring is in the air.  More places are lifting Covid restrictions. Daylight savings time starts this coming Sunday, extending the evening hours. 

And, for the first time in years, we can expect to celebrate Easter, Mother's Day, Father's Day, graduations, weddings with few restrictions. All promise a renewed air of celebration! 

There is widespread anticipation that consumer spending will be very strong. But...spending on what? Before you place all those merchandise orders, consider this.

• We expect that the second quarter burst of consumer spending will be weighted towards services more than consumer goods. A big surprise for many.