quality and other products that
may look the same but be very different in construction and manufacturing processes. Be prepared to
lose some customers who will be
price driven.
However, do not be discouraged.
Your efforts at building a stronger
base through quality minded customers will pay off providing you
give your marketing campaign
time to take root.
Everything you do should speak
to “who you are” and sell the benefits of doing business with you.
MIKE! As the Christmas season
rapidly approaches we are getting
worried. Should we be completely
promotional?
Whether or not your store is promotional should be determined by the
image you currently project to your
customer base. If you are promotional in your a day-to-day business
you should remain promotional because that is what your customer expects. However, if your image is not
completely promotional, you may
be sending a confusing message to
your customer.
If you establish a promotional im-
age throughout the holidays (which
is approximately ten weeks depend-
ing when you open your Christmas
shop) your customers may expect
you to continue the practice after
the holiday season has passed. This
could be a death blow for you.
I suggest having an appropriate
“mix” of merchandise. My definition of an appropriate mix of merchandise is to have an assortment of
regularly priced merchandise that
may be promoted from time to time
throughout the season (or remain at
regular price until the “after Christmas sale.”) Your assortment should
include promotionally priced merchandise acquired through special
vendor purchases. You should establish the regular retail price and then
heavily promote the items throughout the season. Be sure to feature
the promotional items in prominent
displays and advertising campaigns.
Don’t forget to include proper sig-nage in your program.
I do want to make one other point.
It sounds like your concerns about a
promotional image are driven by big
box stores that may be in your area.
If this is the case, I advise you to establish your own image and do not
attempt to battle with the big box
competition. You cannot win that
battle. Evaluate the merchandising
concepts and price points used by
your competition and step above it.
There is plenty of creative merchandise available in the market so take
advantage of this opportunity to
be different. The bottom line: your
product mix should include regularly priced merchandise and some
promotional items.
MIKE! Is the Gift Basket Business
still viable?
I think the gift basket business is
very viable. However, for a retail
store such as yours, you may benefit by offering gift baskets at specific times of the year. The holiday
season is a perfect time to offer
gift baskets. Mother’s Day and the
wedding season are other opportunities for success. Of course, if you
have a customer base that shops
for baby goods, personal care products, or other specific holidays and
events, you should focus on those
customers as well.
If you do pursue gift baskets for
your merchandise mix be sure to
make them unique. Your merchandise selections should be creative,
colorful, decorative, and useful.
Another suggestion is to have a selection of empty baskets available
so that the customer can create his
or her own gift basket. Have shrink
wrap, bows, and ribbons available
so that you can assist the customer
in creating an exciting gift basket
presentation. Create a few samples
for customers to see and then assist
them in creating their own unique
basket that reflects their taste.
Mike Russo is president of the Gift Association of America, www.in
dustryadvi-sors.com/gaa.html. E-mail:
info@indus-tryadvisors.com; phone: 814/288·1348;
fax 814/288·1483.
Going to The New York
International Gift Fair?
Check out these seminars:
Sunday, August 15
8:30am– 9:30AM NYIGF Orientation,
8:30am– 9:30AM Gift Trends: 2010
and Beyond presented by Gift &
Home Interactive Editor John Saxtan
9am– 11amART Retailer Roundtables
Noon – 1 pm Home Trends – What’s
Now? What’s Next? presented by
The Trend Curve
12:30 PM- 2 pm CRAFT Table Topics –
Lunch & Learn!
3 pm – 4 pm Emarketing 1.0 – Untangle
the Web: Website Basics
4:30 pm –5:30PM Emarketing 2.0 –
Business-Boosting E-marketing Strategies
Monday, August 16
8:30 am– 9:30 am NYIGF Orientation
9 am– 10:30 am The Influence of Color
presented by IFDA, (w/continental break-
fast & networking starting at 8:30AM)
Noon – 1:30 pm It’s Easy Being Green –
Just Ask the Experts!
Noon - 3 pm Author Appearance: Karen
Tack & Alan Richardson
1 pm - 3 pm Celebrity Appearance: Dina
Manzo, former star of the Real House-
wives of New Jersey
3 PM- 4 pm Social Media 1.0 – A
Beginner’s Guide to Social Media
4:30 pm – 5:30 pm Social Media 2.0 –
Using Online Technologies to Build
Your Business
4 pm - 6 pm Happy Hour with
Blissliving Home
Tuesday, August 17
8:30 am– 9:30 am NYIGF Orientation,
8:30a m– 10 am The 1, 2, 3’s of
Successful Buying & Inventory
Control, presented by Earnshaw’s
Noon – 1:30 pm Four Basic Strategies
that Drive Retail Sales, sponsored by
retailerforum.biz
3 pm – 4:30PM Innovative Merchan-
dising Strategies to Elevate Your Sales,
sponsored by The Day Spa Association
Gift & Home Interactive
August 2010
