How Are You Doing?
Caroline Kennedy, Editor-in-Chief -- Gifts and Dec, 6/1/2009 12:00:00 AM
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| Caroline Kennedy, Editor-in-Chief |
This month's issue is one that you will want to keep and refer back to over and over again. In addition to our regular features, we present the results of our survey of gifts and decorative accessories retailers in our annual "Today's Gift Retailer" report. I thank all the busy retailers who took the time out of their schedules to answer the survey questions. The answers provide us — and you — with valuable data that represents how gift retailers in general are doing in their businesses, what's selling and at what price points, how they are adapting to and using the Internet, responding to environmental issues and more.
What the survey reveals in many ways confirms what we have been hearing in the aisles of the trade shows across the country — that in spite of the economy and retail sales in general being down, specialty gift and decorative accessories retailers are faring okay, but they are not wearing rose-colored glasses, either. Slightly more than half, 52 percent, reported that their sales were down in 2008 compared to 2007, while 48 percent said that sales were the same or up. The outlook for 2009, is more optimistic with 62 percent of responding retailers projecting that sales will be the same or up from 2008. All things considered, that's pretty darn good.
Of course there are still challenges, but gift retailers are creative, resilient and rising to meet them head-on. Many are concentrating more on their core merchandise categories and are looking for new products at lower price points to be more sensitive to their customers' budgets to drive more sales. They are also warming up to using the Internet and social media more to source, sell, promote and cut costs. Want to know more? Turn to page 32. See how you measure up.
Beyond the Survey
As we approach the summer market season, there is more in this issue to help you plan your open-to-buy and finish up your fourth quarter buying. On page 67, you will find a product focus on one of the survey's "Fantastical Four" core categories — holiday merchandise — to stimulate fourth quarter sales. And Bessie Nestoras also takes a look at two of the survey's "Go-To Ten" categories: Baby Gifts and Tabletop.
And if you are concerned about finances, contributor Mark Battersby offers some guidance on Small Business Administration microloans and other loan programs, which the government's economic recovery plan is funding to help ease the credit crunch for smaller businesses like gifts and decorative accessories businesses.
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