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From The Co-Founders

Patricia M. Johnson & Richard F. Outcalt

Retail Strategists and Retail Turnaround Experts

Co-Founders, The Retail Owners Institute®Business Strata:G®

Unleash Your Inner Merchant?

The prospect of tariffs from 10% to 60% being imposed on goods from Canada, Mexico, China, and other countries by the incoming Trump Administration is certainly contributing to headlines and attention. Another flexibility test for retailers.

Some retailers have seized on the uncertainty that has resulted. They are using the fear of tariff costs leading to higher retail prices to heighten the shoppers' sense of urgency.

"Companies are pouncing at a moment when fear and uncertainty are on the rise and consumer spending is showing signs of weakness," reported The Wall Street Journal.*

Social media provides a ready platform for spreading the fear of potentially higher prices:

  • "Pre-Tariff Sale! Order now before prices double."

  • "Lock in our current prices now!"

  • “The very same items you are seeing now will be double the price once the tariffs kick in."

Meanwhile, others on social media are feeding into the tariff frenzy by urging people to buy their favorite products in bulk now. Some TikTok influencers are offering stockpiling guidelines on how long everyday items like makeup and shampoos can be stored.

Whether or not tariffs will be imposed, and at what rates, and when is very uncertain. And if imposed, how long they might remain in place is likely to be short-lived, according to some.

In the meantime, urging customers to buy more now to save later is, of course, a time-honored sales technique. And there’s nothing wrong with that.  

So, this just may be the time to unleash your inner merchant!

Heighten the sense of urgency for your shoppers. Use the spectre ("veiled threat") of much higher prices looming after January 20 to...

  • Close more and larger sales now.

  • Hold prices longer in December. ("These prices will be like a big discount come January, February...")

  • And importantly, adjust – that is, reduce – your buying plans for 2025! (Your shoppers will be working their way through their stockpiles, remember?)

In retail especially, change IS the name of the game. Adjusting to uncertainty is an everyday flexibility test for retailers.

As one owner's email to all employees noted, "I don't think this will be the last curveball thrown in our direction."

 

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* "Retailers Play Up Tariff Fears To Lure Reluctant Shoppers." Suzanne Vranica, The Wall Street Journal, November 29, 2024.

* "New Tariffs Concern Some Small Firms." Ruth Simon, The Wall Street Journal, December 2, 2024.

 

 

Webinar Of The Week
Any profits in store for you?

We think it's a crime: too many independent retailers discover they've had a loss only when their financial statements arrive...after the fact.

That means they've missed any opportunity to make needed adjustments in advance to avert - or at least reduce - that loss. Yikes!

Why does this happen?

  • Some retailers lack the knowledge, or confidence, that they CAN manage and control their own profitability. "Who knew?"

  • Others think it is something their accountant, or bookkeeper, or CFO is supposed to do. But, those people are trained financial historians, tallying up what has happened in the past.

  • Many other retailers are victimized by financial statements that show operating expenses alphabetized (!) in excruciating detail.

Now, thanks to The ROI, those days are over!

In this lively Webinar Of The Week, Pat Johnson and Dick Outcalt, Co-Founders of The ROI, show how any retailer, anywhere, can know in advance whether or not they will be profitable!

First, see how The ROI's online PROFITS Forecaster lets you do your own "How will it turn out?" projections - in just minutes. Anytime you want, 24/7.  All online; nothing to download or install.

Then, see how its new built-in PROFITS TREND TRACKER...

  • makes it easy to monitor your progress each month

  • lets you discover whether you are trending in a "favorable" or "unfavorable" direction

  • pinpoints trouble spots or growth opportunities in your operation, giving you time to make adjustments!

This fast-paced session is free for everyone to access, and is packed with consulting tips and insights. See for yourself how The ROI's PROFITS Forecaster & TREND TRACKER can put you in control of your business.

Gaining Peace Of Mind Has Never Been Easier

Running a retail business means making countless decisions every day—some big, some small, all critical.

That’s why The Retail Owners Institute® focuses solely on helping retail owners "Turn on their financial headlights!" more here

RetailOwner.com

Avoid mistakes • Seize opportunities • Look ahead now





From The Co-Founders

Patricia M. Johnson & Richard F. Outcalt

Retail Strategists and Retail Turnaround Experts

Co-Founders, The Retail Owners Institute®Business Strata:G®

We Give Thanks…To YOU!

Yes, to you.

 

Since 1999, you and people like you have supported the mission of The Retail Owners Institute® to “Eradicate retail bankruptcies,” one way or another.

We give thanks to you.

As you may know, the worldwide retail industry has the highest failure rate of any major industry. Moreover, more than 90% of all retail operations are privately owned. And nowhere are the owners required to be financially literate.

The effects of these facts are painful, not only for the owners, staffs, and communities, but also societies everywhere. It's a blight on our remarkable free enterprise system.

The ROI has been focusing on trying to “level the playing field.” The projecting calculators, how-to resources and owner training are unmatched.

Certainly, the members of The ROI and the Sponsors of The ROI deserve our heartiest thanks. Your interest and support have enabled us to persevere.

But everyone following The ROI is a major supporter.

We give thanks…to you!!

 

Survival strategy…?

RetailOwner.com

Avoid mistakes • Seize opportunities • Look ahead now




The Retail Owners Institute® has been empowering retailers since 1999 to "Turn on their financial headlights!"
Our tools and resources are trusted by thousands of store owners to help grow profitable, resilient businesses.