By Moe Lastfogel Director of Sales and Marketing for The Retail Observer The advantage of carrying holiday items year-round to boost sales October is here and preparations for my annual Charity Haunted House are well underway. As I start to take the decorations out of storage and get ready to shop the local Halloween haunts for some new ideas; I know exactly where to go for the most unique and ghoulish decorations in town. Ironically, my favorite spot is not a big box store, but a local independent furniture retailer who year-round does some amazing front window displays to draw customers in. And that’s no coincidence. Halloween is the second largest holiday in retail topped only by Christmas. Being a Halloween fan and doing haunts since I was 7, I’ve noticed seasonal retail grow immensely over the past few years. Catalogs are getting more sophisticated and carrying a larger selection of items for the avid collector (addicted may well be the case), as well as the fun-loving families who just want some Halloween fun for the neighborhood kids. As home entertainment continues to be the most viable option for families in a stressed economy, many independents are profiting from adding on seasonal items year round. Getting started is as easy as placing small items near the cash registers for impulse sales or making a space for a display in the back of the store. This will not only draw in more traffic but will force customers to walk by general merchandise. The key is not to replicate what can be found in the big box stores. Instead, find a line of unique or novelty items that customers won’t be able to find anywhere else. You will have loyal customers like me coming back year after year to add to their collection, and not just waiting until they need a new refrigerator or a sofa to come in. As your customers’ haunted houses grow, so will your bottom line. While you’re thinking out of the box this Halloween, start thinking also about other holidays that can drive extra business into your store. Have a safe and Happy Halloween! Moe Lastfogel moe@retailobserver.com
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By Moe Lastfogel Director of Sales and Marketing for The Retail Observer How many times have you heard, “It’s not what you know, it’s who you know”? I personally have heard this hundreds of times. Let’s take it a few steps further and say, “Who knows you and where are they now?” Just knowing someone or something is just a small part of the equation. It’s also realizing that the knowledge you have came from someone else. I remember my dad used to tell me not to give out my knowledge to anyone, because that person would become twice as smart as I was. He reasoned that they would have my knowledge added to their knowledge, therefore it was better for me to listen and learn so I would have the upper hand. Well Dad, I listened and learned quite a bit but somehow I think I could have learned more. Interaction and sharing knowledge leads to more knowledge that can bring out ideas to possibly lead you down different pathways. If we are open to these new discussions, we will find ourselves exploring more avenues. Surrounded by people with the knowledge we need, we can learn more and share what we have. A friend of mine called it “co-opertition”, where two or more companies competing in a similar geographic location or trade come together to share ideas and knowledge. Very similar to the associations and buying groups we support today. Which groups do you belong to? What knowledge are you giving and what knowledge are you receiving? In the last 20+ years, the most important thing I've realized is this: once I finally started to spread the knowledge my dad advised I should keep to myself, I received four times the knowledge back in return. With that added knowledge, I have four times more to share, which will potentially give me that much more knowledge to receive. So don’t just sit in a chair on the sidelines watching and wasting your opportunities to learn. Get up and start sharing! Happy Sharing, Moe Lastfogel moe@retailobserver.com |
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December 2021
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