The 2010 Top Retailers bank on creative marketing campaigns, online engagement and in-store events to spur strong sales in the year ahead.
How is your year shaping up so far? If you’re like many retailers, your hopes are high but your bottom line is still a little weak.
Village Artisans Gallery
P.J. Heyman, owner
Boiling Springs, Pa.
Our best year was 2006. Since then, we have seen a consistent decline of revenue. Six percent the first year, 8% the second, and this year I am predicting at least another 8% decrease.
Museum of Craft and Folk Art Store
Kpoene’ Kofi-Bruce, buyer and store manager
San Francisco, Calif.
How do this year’s sales compare
Even in better economic times, this is how we run our business. We review our inventory item by item.
Iris at the Basin Park
Iris and Rick Feutz, co-owners
Eureka Springs, Ark.
How do this year’s sales compare to recent years’? Are you seeing a consistent decline or a slow improvement?
Sales in 2009 as compared to 2008 are down about 10% thanks to a stronger October, but lag 2007 by 13.5%. Our business is tourist-based and can be influenced by factors other than the economy; this year’s weather contributed to lower sales. The trend of the last six to eight weeks seems to be a slow improvement both in customer count and sales, which bodes well for next year.
Down Creek Gallery
Tony W. McGowan, owner
Have you reduced your inventory levels? What needs to happen before you will feel comfortable increasing your inventory levels?
We did not reduce our inventory levels. We increased our inventory levels at the beginning of the spring season. We looked for lower price points in high-quality works.