TAKE A TOUR IN 2010

FOR ALL RETAILERS

The new year is upon us. 2010 is aligning itself to be better than 2009. It shouldn't’ be difficult…2009 was not a very good year for the majority of industries. With the exception of only a few, the soft economy had a huge negative impact on most of us. Let’s welcome 2010 with open arms, hoping for positive trends, better consumer spending patterns and a return to a bit of prosperity for our industry.

In order to be prepared for whatever 2010 has in store for us, we must be prepared for all possibilities. One key thing for all retailers is to know their competition. January is a great time to take a tour. Visit your competitors. Take the time to actually understand what they are doing.
No matter what the economic environment, it is imperative the small business owner know what his competition is doing. In excessively trying times, such as those we are currently experiencing, it is even more important to “know thy competition.”

Many on and off premise accounts think a mere perusal of the newspaper will inform them as to exactly what other accounts are offering the customers you all share. Nothing could be further from reality.

In the off premise, many of the items designed to impact the consumer are in-store…not advertised at all. These could be the re-alignment of the store, altering the store’s traffic flow. There could be great, creative displays and food tastings in all aisles. While I am not a big fan, there could be a huge wall of holiday baskets.

If you own an on premise account, look for things that stand out. Things that interest you. New brands, new dispensing devices, new and different menu items. Anything that stands out. Look at pricing…everyday prices on the menu as well as promotional prices on table tents, placemat, signs or menu boards. Take it all in. Take notes to help you remember who had what and for how much.

Experiment with the ideas you like. Copy and improve on the best ideas. Be creative.

In order to be the smart retailer, you have to “take a tour.” Decide who your key competitors are and physically visit them all.

This type of tour is done for one basic reason. To copy the good ideas you see and to improve on them. There is absolutely nothing wrong with copying a good idea. Remember, imitation is the sincerest form of flattery. The only negatives are not making this competitive tour or not improving your marketing because of what you find.

Every individual retailer has good ideas. By visiting your major competition you can use the combined creativity of a number of retailers to make your place #1 in 2010.

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Thank you for your support.

Happy New Year.