By Moe Lastfogel
Director of Sales and Marketing for The Retail Observer
The way many of you do business today is because of a young man by the name of Richard Sears who started his empire in 1886 as a railway station agent who stumbled on a shipment of unwanted watches... the rest is history (www.searsarchives.com/history).
Why do I bring up the “BIG COMPETITION”? Because the story of Sears is about to come to its conclusion as more and more stores are closing across the country. According to recent reports, almost 109 locations between Sears and Kmart will be closing this year alone. But it's not only Sears and Kmart: Staples, Office Max, RadioShack and JC Penny are also shutting down many of their locations.
Are you ready? With these “Big Boys” jumping out of the pool, it's time to take off your floaters and start swimming. Many of our readers have already jumped into the deep end and are benefiting from the new opportunities for growth. For those of you who haven’t, it's time to take action NOW. After speaking with the management of several buying groups, I found out that they all have plans and programs to help you with this new wave of business. I urge you to take advantage of these programs— see what retailers have been selling in your area and compare that with what you are currently selling to figure out what categories and products you should be adding to your inventory.
Get on your swimsuits, folks, and jump on in—the temperature is just right!
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