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 Welcome to the inaugural issue of STORES Trends, a new semi-monthly e-newsletter highlighting some of the interesting things happening in the retail arena. We hope these stories will inspire, educate, make you think – and, on occasion, maybe even give you a bit of a chuckle. New ideas come at us from every corner; STORES has sorted through those that are likely to have an impact on retailers. If you want to be trend-savvy, keep reading.
Susan Reda
Editor
www.STORES.org
Don’t Snicker: Chocolate Sales Defy Recession
Chocolate sales typically surge in February, but it turns out consumption of this rich confection increased in 2009, bucking the global recession. According to one analyst, “Chocolate is a small, affordable indulgence for people who are cutting back on spending elsewhere.” read more...
“Buy Local” Messaging Clicks
According to a recent survey, shoppers deliberately sought out locally-owned businesses this past holiday season. Holiday sales rose an average of 2.2 percent, and independent retailers in cities with active “Buy Local” or “Think Local First” campaigns saw average sales increases of 3 percent. read more...
Next-generation Customer Service
Should retailers be doing more than just monitoring social media to see what people are saying about their brands? According to Michael Wooden of Affiliated Computer Services, retailers should be incorporating this information into their customer service solutions so that these “conversations” can be distilled into knowledge that can be used to improve customer service. read more...
Luxury Sells in China
Chinese consumers’ luxury purchases were expected to have increased 12 percent last year, while over the same period, the luxury market declined 16 percent in the United States, 10 percent in Japan and 8 percent across Europe. China's super-wealthy are the pacesetters, but the majority of China’s luxury customers are between the ages of 20 and 40. read more...
Keys to Success
As the economy slowly recovers, retailers are restructuring their operations to improve business and financial performance in 2010 and beyond. One practice helping chains achieve these goals is tightening inventory management to significantly reduce their on-hand stock: 70 percent of respondents reported reducing inventory levels at a greater rate than their sales declines. read more...
Crossed Channel
Judging from findings announced last month at NRF’s Annual Convention & EXPO, a majority of retailers still have kinks to work out of their efforts to achieve cross-channel integration. Only 38 percent of retail companies make certain that marketing promotions are available across all channels, and a whopping 96 percent cannot access online customer profiles in-store or via call center. read more...
Duct Tape? Walk This Way
According to celebrity website TMZ, Aerosmith’s Steven Tyler gave an impromptu concert to customers at the Rancho Mirage, Calif., unit of The Home Depot in late January. The singer reportedly got on the store's intercom system and sang snippets of "Dude Looks Like a Lady" and "I Don't Want to Miss a Thing." read more...
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