by Rebecca Button on February 19th, 2008
Are you?
Mob shopping, also known as team buying, is a consumer buying tactic originating in China, that involves gathering a group of people together in-store to drive a bargain with the seller. There are many websites and forums (TeamBuy.com.cn ) that facilitate the time and place. The popularity of these events is mostly due to the cultural ideology that no price is set in stone and that bargaining is a way of life in China. And consumers are seeing results. While many sellers do not particularly like this new tactic, some are embracing it and even setting up events... Read more »
by Larry Slusser on December 4th, 2007
You have your business concept, the product you are selling, suppliers are lined up and you know how you are heading to market. All you have to do now is sell right? While this is the approach of many small and large companies this vision can be a bit short sighted and lead to difficult times down the road. To be competitive and ensure your company is well positioned in the market, you have to know what products your customers want and how that demand changes.
Without ongoing market research and product sourcing, your business will begin to decline. No... Read more »
by Jennifer Ratliff on October 17th, 2007
As 2007 comes to a close, people are scouring the stores, the Internet, and their crazy friend’s craft shop for that perfect Christmas gift. This is the time of the year when sellers become psychically tuned to the state of the world and decide what the hot ticket item is for the year. Filling the requests of millions of holiday shoppers is a big task, but if anybody is capable of making consumers happy, resellers can.
What are the most popular products for the 2007 holiday season? Technology seems to be the key.
If it doesn’t plug up, use batteries... Read more »
by Veronica Stone on August 7th, 2007
Social Retailing
Here’s a new term that retailers will soon learn! Bloomingdale’s is trying to reach out to teens and young adults, so in its flagship store in New York City, it offered an interactive sales-floor mirror that let shoppers view themselves in outfits as well as comments – and images of alternate garments – sent to the mirror by their online friends!
If the shopper liked the look of the dress suggested by a friend, she can touch the mirror to make the image of the dress appear life-size, and then stand in front of it which will allow... Read more »
by Veronica Stone on August 6th, 2007
JUST back from Toy Fair in NY and it seemed like there was some business going on the first day. One vendor hawking his products to us boasts that soon it will be in Wal-Marts. As a small independent retailer do you think that is what I want to hear? So I can take my profit margin and slice it down the instant it hits the box store. What are some vendors thinking?
COLORS are important in your store. At Children’s Place stores they changed to blacks and browns. Said it was more sophisticated. Yes, of course, a sophisticated three-year-old!... Read more »
by Veronica Stone on June 5th, 2007
Pacific Rim Liquidated
THE thirty-year-old gift and home decor company Pacific Rim which went into bankruptcy earlier this year completed the last step of their sad tale, complete liquidation. This once extremely popular gift company succumbed to the pressures of the changing marketplace and unable to sustain, filed for bankruptcy protection with the hopes of finding an adventurous suitor to continue its legacy.
UNFORTUNATELY there was no knight in shining armor and early last month the company went into liquidation mode. Handled by the national liquidation company, Great American Group, lots both large and small hit the auction block in... Read more »