PERSPECTIVES

There's a lot of optimism in the air these days. 

Covid-19 lockdown restrictions are being eased. More people are becoming vaccinated. Upbeat economic news is reported. Unemployment figures are improving. Restaurants are preparing for diners to return. And of course, given that we are now starting to compare sales results to the meltdowns of 2020, dramatic percentage growth is being reported and forecast for the balance of the year.

These positive and optimistic news reports all are very welcome. Retailers are eager to see customers return. 

But what should retailers expect? To brace yourself for the  myriad changes. 

As we approach April of 2021, the question for retailers is "Now what?" Having survived 2020, in many cases on guts and guile, we must now focus on how best to survive 2021 and beyond.

As having one foot on the dock and one foot in the boat, the future of retailers in that Red Zone is not a pretty picture. 

Granted, there is much talk about the expectation that "convenience" will become a major factor for shoppers going forward. And we don't disagree. 

• Throughout 2020, millions of shoppers – including the older Baby Boomers – discovered the benefits of online shopping. Then, as brick-n-mortar retailers scrambled to survive, the increased availability of delivery, curbside pickup, BOPIS (Buy Online, Pickup In Store) and BORIS (Buy Online, Return In Store) has been well received by a broad swath of consumers. 

Here's the deal: We see that this has brought heightened awareness of two different retail strategies: Convenience Retailing versus Destination Retailing. 

The just-released "2021's Main Street Business Survivor Study" from the Pandenomics series conducted by the PYMNTS.com folks* focuses on the "Main Street Survivors:" those small to medium sized businesses "that have weathered the pandemic's fallout." 

Vital lessons.

What have these "survivors" done differently than the rest of SMB businesses? Here are the major findings of their study. We think that you'll see many of the survival steps you have taken, or be prompted to adopt some others. 

Have you noticed? From the growing Shopify online businesses, to an array of pop-up shops, mobile "fashion trucks," or newly-repurposed spaces in neighborhood shopping districts, there are many new retail operations emerging. They're actually springing up!

Plus, there are the established retailers who, having shed many legacy features, are re-imagining their place in the ("Coming soon!") post-pandemic environment.   

"Keep your head up. 2021 is going to be great!"

That message is emblazoned – in sunshine colors - in the windows of Nordstrom's flagship store in downtown Seattle. And yes, on a drizzly January day in Seattle, it was a welcome sight this morning. A nice pep talk for us all.

And a fitting message to follow our reflections on the year we just experienced. 

Since March 2 of 2020, our From The Co-Founders commentary has been focused on the pandemics. Revisiting those was quite the "year in review" experience.*

• From March 2: "This is no time to overreact, nor to be dismissive. Look for the facts!"
• And, "Our focus is on those impacts that demand the most judgment from owners."

Usually at this time of year, we would be encouraging you to remember that "the lull" is about to arrive. 

That is, that time span from Black Friday/Cyber Monday through early December is typically much slower for retailers. 

And then, come December 10th or so, the Christmas sprint begins! 

Ahh yes. That was then. And this is, well, 2020. 

Amidst the fog of uncertainty of 2020, retailers have experienced a breath-taking acceleration of time, as an array of new-to-retailers technologies have now become almost commonplace. 

2020 has put an end to the days of retailers being technology laggards. We applaud the resilience and adaptability of retailers who did embrace change and especially technology during 2020. Retailers definitely rose to the occasion!

And yet, again, the virus is surging. Even as promising announcements are made about vaccines, the threat that COVID-19 continues to pose to the survival of local businesses is ominous, and substantial.

We agree! This is so not fair!

But, who is up to that challenge? Independent retailers who are merchants supreme.

Maybe you heard it. 

We heard this weekend a resounding sigh of relief from around the world. The election has ended. 

For all of us, this passage invites fresh optimism, a fresh resilience, and a fresh commitment to the important things in life.

As retailers, one of those important things is your operation. 

The situation suggests that now is the perfect time to reexamine your competitive edge.