Details In Business Blog

by Paul Bensman
Details In Retail, Inc.

The Commerce Department reported on Wednesday that retail sales tumbled 2.7% in December 2008, compared with a revised 2.1% drop in November 2008.  This is the 6th straight month of decline. I predict that this is a trend that will not reverse for several more months.

Retailers, both large and small, have to change their way of doing business.  When sale figures go in reverse small retailers must take drastic measures to survive.  First, their cost of doing business must be reduced. All expenses, including rent, insurance, utilities and marketing costs must be examined.

Many retailers make the mistake of eliminating or reducing marketing cost too much.  Today’s small retailer must continue to market and advertise their business.  In some cases, they may want to increase this spending as long as other reductions of cost are made to compensate for this increase.

Retailers must research cost effective ways to market their business.   There are many affordable and effective solutions.

Do something now to reverse your down turn in sales.  It’s not too late.

Details In Retail is helping build Michigan’s economy one small business at a time.  We could just be the solution your business needs to make it through these challenging times.  Learn more and schedule your FREE initial consultation at detailsinretail.com

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