Wednesday, March 18, 2009

Independant Retailers Reporting Solid Sales

Source: RetailingTogether

Sassy Sarongs - Lisa Zajdel, owner of Sassy Sarongs, is a confident business owner with a bright smile and a fierce dedication to her business who sees this downturn as an opportunity to grow her business, despite the fact that other retailers “might be retracting.”

Like most successful retailers, Lisa knows that recessions are part of a cycle, and good times follow the bad, but solid management is always a requirement. Rather than hunkering down, she’s changing her business to fit new realities and prepare for the recovery.

I’ve actually stepped up my advertising and changed my pricing strategy to be more promotional,” reports Lisa. She’s reaching out to bloggers, advertising on other websites, using Google Ad Words more, and expanding her online advertising. And her consumers are responding.

Stefan Mann in Phoenix AZ - To owner Patrice Mann, this economy is nothing new. “When we came through 9/11 it took everything we had. We had to buy things on credit and it was very very difficult. We did what was necessary, but at that point my husband decided that he never wanted to get into that situation again. So we established budgets and we are very grateful because we could see a recession starting last year around the holidays.”

By establishing budgets and controlling their inventory, Patrice developed a solid merchandising strategy that paid off when the economy soured, and merchandising has long been a strength of Stefan Mann.

Both Patrice and Lisa have demonstrated that independent retailers can survive if they adopt solid business practices. Like many successful retailers, they addressed the recession by reorganizing their strategies, increasing customer service, increasing their promotion budgets, and keeping close watch on inventory. Patrice and Lisa have decided to face this economy like any other business challenge and have found an opportunity for growth.

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