Updated November 21, 2024
Despite the best sales increases in 14 months, I continue to read articles telling retailers they must "dumb down" their offerings to attract the more budget-minded post-recession consumer. Of course, that is conventional wisdom—nothing new.
That's why if you adopt this, you'll be sunk. By dumbing down, cheapening up, and cutting off the higher-priced items, you'll look just like everyone else, particularly the big boxes. That means you'll have to sell more of the low-priced stuff to hope you can make up the profit loss from more significant ticket wants. And when it doesn't, you'll pile the discounts on completing the downward spiral.
Don't care if you are a nursery, gift, toy, apparel, furniture, or hardware store. The more alike you are to the dirt-scratcher who marks up minimally, the more you meld into the mass market.
Let's be honest, dads. You shop to show your affection. You will still shop late for your wife's and kids' holiday gifts. From my experience, we retailers love to see you the week before Christmas.
Are men shopping on "price" or "WOW?" I think it is the WOW factor that retailers must look for.
Moms, sure, there are times you look for the "shut up" toy, but at the holidays, it is about how you feel watching them play, especially if they are younger.
Retailers, you need to remember this holiday. It isn't the cheap; it's the love they will be showing. Yes, it's materialistic; that is what retail is.