Details In Business Blog

by Elizabeth Cusulas
Details In Retail, Inc.

Small business…
It’s the weekend after Thanksgiving and I’m avoiding the malls again.  This means I’m missing out on all the “super savings” of the black Friday weekend deals.  That’s fine with me.  I’d rather pay a bit more and not have to battle an army of shoppers with turkey-hangovers at dawn.  I also prefer to support small businesses when I can, especially local small businesses.  My reward is a more interesting and unique assortment of products, readily available parking and shorter lines.  The trade off is that small businesses don’t often offer big discounts.  But times are changing…

A local gift shop’s online newsletter now begins with a “buy more, save more” sale announcement.  The new economy has forced even the smallest retailers to compete on a level they never considered before – even though the competition means less profit in the short-term.   The upshot is that this economic pinch is teaching small businesses the lessons that will help them survive while retail giants collapse all around them.   When the dust settles, there will be a new breed of creative, savvy, nimble and fearless small retailers - ready for growth.  It’s already begun…

Small gestures…
Every Christmas for over a decade, I draped my porch with evergreen garland.  I bought it at a local florist where the quality is good and the prices are reasonable.  The past few years, I cut back on my decorating budget and slapped an inexpensive wreath on the house instead.  Not having the garland was depressing.  The lack of garland was a constant reminder that times were tough.  So this year, in the spirit of looking ahead with hope, I decided it was time to festoon the porch with garland again.

I checked the local farmers’ market, but prices were high.  I was ready to face the naked porch for another Christmas.  Then I went back to my local florist and – surprise – their price for the garland was lower than it’s been in years.  The owner explained that she’d just cut her usual markup because times were hard and people couldn’t afford as much.  What an unexpected and elegant solution.  Make less, but make sales - and keep your customers.  I bought my garland – it’s Christmas on my porch once more.  

Big payoffs…
There are lessons here.  

First, small businesses survive on loyalty.  Customers remember acts of retail kindness.  That shop owner subsidized my holiday decorating out of her own pocket.  I won’t forget. 

Second, it’s a wonderful thing for any business owner to acknowledge that this just isn’t the time make a lot of money.  This recession has taught retailers that you can only squeeze the consumer so hard in hard times.  If we can all get by with less, maybe we can all get by.

Most important, this economy is creating a time for everyone to reevaluate and evolve.  No more business as usual.  Time for consumers to consider making purchases on a more local, manageable and sustainable level.  For business owners, it’s time to decide just how much your customers are worth to you.  For everyone, it’s time to make the changes that make sense in this new economy.  The results just might be amazing…

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