Today’s consumer is very educated, and armed with powerful internet and social media tools. Consumers can go online and quickly compare pricing and reviews on any item – at any time.  Consumers also understand the value of the merchandise that they are purchasing. Just because an item has a branded label on it does not mean that all the products of that brand are of like quality. Remember, you always get what you pay for!

Consumers have also been trained to look for sales. Many only shop when they see the word SALE.  Years, ago, the auto industry started rebates and, to this day, many car shoppers still wait for rebates and incentives before making their purchase. Will the J. C. Penney shopper do the same?

I’m sure that J.C. Penney will see some great sales figures for the launch of this new pricing policy, but I am waiting to see if these figures will continue for the long term. Will the JCP shopper still wait for the special sale dates or embrace the new “fair and square” pricing strategy?

Being in the retail industry, and one who never likes to see a retailer fail, this will be an interesting case to follow.   Personally, I can’t remember the last time I shopped at J. C. Penney, but I’ll be there after February 1^st to check out the new pricing concept.

Can this new strategy bring long term success?  Time will tell…

Today many prime locations are available for a more reasonable discounted price. Many landlords who would never even listen to franchise owners or mom and pops will now listen to any offers they receive. Some landlords are even offering free rent and money towards the build-out of the location.

The buzz in the commercial real estate community is that we will see the light at the end of the tunnel in 2012. That means if you’re considering opening, moving or expanding any type of retail business, you may want to act now – before the market heats up again. Many markets across the US are already starting to see an uptick in calls for retail locations. Along with those calls, the rates for locations will start rising based on the basic economic rule of supply and demand.

When searching for a retail site, it’s very important to hire a commercial real estate broker or agent specializing in retail properties. Remember the broker or agent will cost you nothing out of your pocket; their fee is paid by the Landlord. A qualified retail broker will give you insights into the local market that are vital for choosing the right location and getting the best possible deal.

To find a qualified retail broker in your area, contact Details In Retail.

For the last four months, I have been working on a lease for one of my clients. It came down to one issue and both parties thought the ball was in the other’s court. I finally invited the other party to lunch to discuss the problem and in five minutes the issue was resolved. That meeting ended four months of email and phone calls. One simple face to face meeting finished the deal.

We must make a change in today’s business world; business is becoming less personal and more mechanical.  It’s fast and easy but also dangerous.  One typo can kill a deal or piss off the other party. I have watched my son and many other young people get into arguments on their phone while texting.  Not only do they cramp their fingers, but on most cases the situation gets worse, not better. If each party would just pick up the phone and talk, their issues and feelings could be communicated. A face to face meeting could resolve things even faster. You can’t reach out and hug someone through the phone.

Let’s try to bring some personal contact back to the world of business. Digital communication robs you of important cues like tone of voice and facial expressions. We read body language, whether we realize it or not.  In face to face meetings, you can see and hear those signals – and avoid problems.  When you communicate exclusively by email, text and chat, you are working blind.

Time was, you lived in a town or city and you shopped where you lived.  You knew the shops, markets and restaurants, you knew the owners.  Now there’s a growing movement to reclaim our economic heritage.  We’ve done global.  Now more and more U.S. consumers are thinking local.

After decades of newer, shinier, bigger (so big your town won’t hold it) shopping venues, we’re heading home.  Back to goods made in our country and our state, back to locally grown food, back to neighborhood merchants.  Our zeal for more, more, more has given us less, less, less.  We’re ready for a change. 

In your community…

Minneapolis retailer & consultant Cindy Baxter launched her now-famous 3/50 Project at the end of March 2009.  She asked people to make a conscious decision to shop local merchants.  She made a simple challenge - pick 3 businesses you’d hate to lose from your community and spend $50 a month (total) at these 3 businesses.  According to her figures, if half of the employed population did that, it would generate 42.6 BILLION in revenue.  The genius of her idea is the simplicity.  She’s not asking you to change everything; just make a commitment to 3 local vendors and shop with them on a regular basis.  The response to the 3/50 Project has been enormous.

In your state…

The stakes are particularly high here in Michigan.  Buy Michigan Now, launched by Lisa Diggs in 2007,  is spreading the word about supporting the local economy – one purchase at a time – with this simple encouragement: “Think Michigan First! If the quality, availability, and price meet with your needs, spend your money within our state”.

Everyone is working to make it an easy option.  Markets are labeling Michigan products and produce.  When I shop my local farmers market every weekend, I get a smile and “thanks for buying local” along with my change.  Again, these are small changes but if enough people make small changes, the rewards are massive.

“When $1 is spent locally, that $1 impacts three to seven different local businesses before leaving the local economy.”  Don Koivisto, Michigan Department of Agriculture Director

In your country…

Paul Bensman, founder of Details in Retail, has developed a concept to promote “Made In USA” products.  Coming soon to Northville, Michigan, Made Buy USA Shops will offer US manufacturers a way to showcase their products and help people find easy ways to keep their dollars closer to home.

Small steps…

That’s the key.  Make it easy, make it fun and don’t ask for radical changes.  These grass roots movements give consumers the information they need and a few simple actions to take.  Those small steps will mean a lot to all of us.

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