Use your best tools to thrive
From the Editor
Jenny Heinzen York -- Home Accents Today, 5/1/2009
In my newly-added role as editorial director of sister magazine Kids Today, I attended the All Baby & Child Spring Conference and Tradeshow earlier this month.
While there, I attended a seminar hosted by retail expert Rick Segel. Segel is a veteran of the conference circuit, but he always draws a packed house because he is witty and clever, and offers some very real and simple advice to stores about how to succeed, even in an uncertain economy.
Segel says the key to retail success right now is to differentiate your store from your competitors and suggests a few strategies and tips:
- Expertise — provide training, classes or information.
- Price — if you live by price, you will die by price.
- Wow — what are you doing to wow your customers?
- Trust — customers are much more likely to buy a product recommended to them by a salesperson.
- Coupons and promotions — coupon usage is up 179% this year, and most coupon-users are middle-class consumers. Give them a reason to come visit you.
He also spent some time discussing the importance of Awards and Public Relations.
Segel says nominate yourself for every award you can find out there. Always assume there are fewer applicants than honors, as is often the case. He even goes so far as to suggest you create your own award — and present it to yourself.
And speaking of awards, you have in your hands our Retail Stars issue. This is an award (a real one, with lots of applicants) that we present every year to 50 deserving stores in the home accents and furnishings world. This year's list is one we are particularly proud of, because these stores are the true survivors. Take a look on page 15 — we think there's something you can learn from them too.
And finally, PR. This is a subject that has become increasingly dear to me as I have hosted several seminars and panel discussions on the subject at various gift and home markets over the last few months. Each time, I have come away from the sessions with new ideas brought to me by the various panels of PR-savvy retailers. One of those is Valerie Watters, who is not only pretty clever with her PR, she is also one of the Retail Stars for 2009. Valerie is our guest retail columnist this month. Turn to page 58 for some of her insights on a creating a PR strategy for your store.
And stay tuned to future editions of HAT, because I have lots more to say on this issue myself.
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