#BUY_LOCAL

[tameblog]

Sister publication Gifts & Decorative Accessories recently spoke with experienced retailer Carol Schroeder, co-owner of Orange Tree Imports in Madison, Wis., who shares advice on how to price products amid economic woes, plus how to propel the buy local movement and boost local small businesses. Good, Better, Best Q: Should we stock goods at lower price points during these tumultuous times? We’ve heard that shoppers are likely to be more cautious about their spending this year. A: These are indeed choppy waters for independent retailers to navigate, especially with the big unknown of tariffs on goods from certain countries. Customers may see prices creeping upwards due to these surcharges, and it’s hard to predict how that will impact their purchases. The safest way to protect yourself from big changes in shopping habits is to offer goods at a variety of price points. This classic approach, which became popular in department stores in the 1900s, is based on the concept of stocking three different quality levels – good, better and best – for your most popular categories of merchandise. An example would be tapers offered in a no-frills bulk pack, as a pair tied together with a ribbon, and as a gift box of hand-dipped candles made by a local artisan. This strategy is sometimes known as Goldilocks pricing, because it offers something for everyone. You might think that would mean that shoppers would choose the price level that best fits their budget, however consumer behavior is more complicated than that. The good option does of course appeal to customers who can only afford a no-frills product. But those who can afford the luxury level will often choose the better option because they don’t need the features of the best product – or because they are being economically cautious. In this case, the fact that you offer items at a higher price point makes them feel better about choosing the ones in the middle range. Of course there are those for whom price is no object. Pam Danziger of Unity Marketing, who has spent decades studying the ups and downs of the luxury market, recently noted that “in the current economic climate, affluent consumers are taking a more measured approach to luxury spending.” While often turning away from expensive products that evoke status, they are still frequently interested in buying products that are at a higher price due to their quality. There are also middle-income shoppers whose high-ticket purchases are aspirational, spending beyond their budget to show that they appreciate well-made, durable merchandise. As a retailer, you will find that one advantage to stocking the G-B-B price points is that you can learn from experience which level of goods sell best for you. Your shoppers will vote with their dollars, allowing you to concentrate your inventory purchases on the range that is strongest for you in today’s economic climate. Buying Local Still Important Q: Our area’s shop-local organization lost some key personnel during the pandemic and hasn’t been active lately. Is that a movement worth our time and effort? A: Take a look at the enormous gains made by online shopping – especially Amazon – during the five years since the start of COVID-19, and you’ll see the reason for the declines that many independent stores have experienced since the pandemic began. While it was predicted in 2021 that the majority of consumers would be prioritizing shopping at neighborhood stores and buying locally sourced products once it was safe to shop in person, that hasn’t turned out to be the case. Buying online is so easy, and with the availability of free and almost instantaneous delivery, two of the major pain points have been removed. How can we convince customers to come to brick-and-mortar stores? First and foremost, we need to offer a shopping experience that is worth their while. Coming into your store needs to be a convenient, efficient and enjoyable option. The goods we offer must be what they want to buy. You can welcome shoppers warmly and have a delightful ambiance, but that doesn’t mean anything if your inventory doesn’t include the items they expect you to have – along with the serendipitous discoveries that make shopping in person so exciting. There are also great advantages to our communities having locally owned stores that are unique to our area. Our businesses support the regional economy, create jobs and have a positive social impact. It is also better for the environment since buying locally sourced merchandise reduces transportation costs, both at the wholesale and the consumer level. The best way to tell this story, and to remind customers of its efficacy, is through the buy local movement. By joining together, we can get the word out much more effectively. Together with the Small Business Administration (SBA), American Express has contributed enormously to this effort through Small Business Saturday. This annual event champions shopping small nationwide on Thanksgiving weekend, with an estimated $200 billion spent at small businesses since its inception in 2010. But we need to work locally to make this a year-round effort. If you don’t have a buy-local organization in your area, reach out to your business neighbors to work together to promote this concept to the public. An existing chamber of commerce or town government might be willing to sponsor your group. Be sure to include restaurants as well as service businesses and retailers, since everyone benefits from more local customers. You’ll want to establish some goals for your organization. Perhaps you primarily want to educate and engage your community around the issue of shopping and dining locally. You might also want to sponsor some events or create window signs and a website. Even a shared hashtag can be an effective way to show that your business community is committed to working together to promote this shared goal. Our group started using #monroestreetmadison a few years ago, and there are now more than 10,000 Instagram posts linked to that. While there are no longer strong national buy-local organizations to turn to for leadership, you can find inspiration and actionable ideas from dozens of localized initiatives around the country – and the world. Researching statistics supporting the economic benefits of shopping local is also important so that you have current material for social media posts and press releases. In a shopping environment becoming increasingly dominated by online sales (especially Amazon), it’s essential that we let our customers know the many reasons why shopping local matters. !function(f,b,e,v,n,t,s) if(f.fbq)return;n=f.fbq=function()n.callMethod? n.callMethod.apply(n,arguments):n.queue.push(arguments); if(!f._fbq)f._fbq=n;n.push=n;n.loaded=!0;n.version='2.0'; n.queue=[];t=b.createElement(e);t.async=!0; t.src=v;s=b.getElementsByTagName(e)[0]; s.parentNode.insertBefore(t,s)(window, document,'script', ' fbq('init', '693453330863834'); fbq('track', 'PageView'); Source link

[ramestoryworld]

Sister publication Gifts & Decorative Accessories recently spoke with experienced retailer Carol Schroeder, co-owner of Orange Tree Imports in Madison, Wis., who shares advice on how to price products amid economic woes, plus how to propel the buy local movement and boost local small businesses. Good, Better, Best Q: Should we stock goods at lower price points during these tumultuous times? We’ve heard that shoppers are likely to be more cautious about their spending this year. A: These are indeed choppy waters for independent retailers to navigate, especially with the big unknown of tariffs on goods from certain countries. Customers may see prices creeping upwards due to these surcharges, and it’s hard to predict how that will impact their purchases. The safest way to protect yourself from big changes in shopping habits is to offer goods at a variety of price points. This classic approach, which became popular in department stores in the 1900s, is based on the concept of stocking three different quality levels – good, better and best – for your most popular categories of merchandise. An example would be tapers offered in a no-frills bulk pack, as a pair tied together with a ribbon, and as a gift box of hand-dipped candles made by a local artisan. This strategy is sometimes known as Goldilocks pricing, because it offers something for everyone. You might think that would mean that shoppers would choose the price level that best fits their budget, however consumer behavior is more complicated than that. The good option does of course appeal to customers who can only afford a no-frills product. But those who can afford the luxury level will often choose the better option because they don’t need the features of the best product – or because they are being economically cautious. In this case, the fact that you offer items at a higher price point makes them feel better about choosing the ones in the middle range. Of course there are those for whom price is no object. Pam Danziger of Unity Marketing, who has spent decades studying the ups and downs of the luxury market, recently noted that “in the current economic climate, affluent consumers are taking a more measured approach to luxury spending.” While often turning away from expensive products that evoke status, they are still frequently interested in buying products that are at a higher price due to their quality. There are also middle-income shoppers whose high-ticket purchases are aspirational, spending beyond their budget to show that they appreciate well-made, durable merchandise. As a retailer, you will find that one advantage to stocking the G-B-B price points is that you can learn from experience which level of goods sell best for you. Your shoppers will vote with their dollars, allowing you to concentrate your inventory purchases on the range that is strongest for you in today’s economic climate. Buying Local Still Important Q: Our area’s shop-local organization lost some key personnel during the pandemic and hasn’t been active lately. Is that a movement worth our time and effort? A: Take a look at the enormous gains made by online shopping – especially Amazon – during the five years since the start of COVID-19, and you’ll see the reason for the declines that many independent stores have experienced since the pandemic began. While it was predicted in 2021 that the majority of consumers would be prioritizing shopping at neighborhood stores and buying locally sourced products once it was safe to shop in person, that hasn’t turned out to be the case. Buying online is so easy, and with the availability of free and almost instantaneous delivery, two of the major pain points have been removed. How can we convince customers to come to brick-and-mortar stores? First and foremost, we need to offer a shopping experience that is worth their while. Coming into your store needs to be a convenient, efficient and enjoyable option. The goods we offer must be what they want to buy. You can welcome shoppers warmly and have a delightful ambiance, but that doesn’t mean anything if your inventory doesn’t include the items they expect you to have – along with the serendipitous discoveries that make shopping in person so exciting. There are also great advantages to our communities having locally owned stores that are unique to our area. Our businesses support the regional economy, create jobs and have a positive social impact. It is also better for the environment since buying locally sourced merchandise reduces transportation costs, both at the wholesale and the consumer level. The best way to tell this story, and to remind customers of its efficacy, is through the buy local movement. By joining together, we can get the word out much more effectively. Together with the Small Business Administration (SBA), American Express has contributed enormously to this effort through Small Business Saturday. This annual event champions shopping small nationwide on Thanksgiving weekend, with an estimated $200 billion spent at small businesses since its inception in 2010. But we need to work locally to make this a year-round effort. If you don’t have a buy-local organization in your area, reach out to your business neighbors to work together to promote this concept to the public. An existing chamber of commerce or town government might be willing to sponsor your group. Be sure to include restaurants as well as service businesses and retailers, since everyone benefits from more local customers. You’ll want to establish some goals for your organization. Perhaps you primarily want to educate and engage your community around the issue of shopping and dining locally. You might also want to sponsor some events or create window signs and a website. Even a shared hashtag can be an effective way to show that your business community is committed to working together to promote this shared goal. Our group started using #monroestreetmadison a few years ago, and there are now more than 10,000 Instagram posts linked to that. While there are no longer strong national buy-local organizations to turn to for leadership, you can find inspiration and actionable ideas from dozens of localized initiatives around the country – and the world. Researching statistics supporting the economic benefits of shopping local is also important so that you have current material for social media posts and press releases. In a shopping environment becoming increasingly dominated by online sales (especially Amazon), it’s essential that we let our customers know the many reasons why shopping local matters. !function(f,b,e,v,n,t,s) if(f.fbq)return;n=f.fbq=function()n.callMethod? n.callMethod.apply(n,arguments):n.queue.push(arguments); if(!f._fbq)f._fbq=n;n.push=n;n.loaded=!0;n.version='2.0'; n.queue=[];t=b.createElement(e);t.async=!0; t.src=v;s=b.getElementsByTagName(e)[0]; s.parentNode.insertBefore(t,s)(window, document,'script', ' fbq('init', '693453330863834'); fbq('track', 'PageView'); Source link

[alexha2210]

Sister publication Gifts & Decorative Accessories recently spoke with experienced retailer Carol Schroeder, co-owner of Orange Tree Imports in Madison, Wis., who shares advice on how to price products amid economic woes, plus how to propel the buy local movement and boost local small businesses. Good, Better, Best Q: Should we stock goods at lower price points during these tumultuous times? We’ve heard that shoppers are likely to be more cautious about their spending this year. A: These are indeed choppy waters for independent retailers to navigate, especially with the big unknown of tariffs on goods from certain countries. Customers may see prices creeping upwards due to these surcharges, and it’s hard to predict how that will impact their purchases. The safest way to protect yourself from big changes in shopping habits is to offer goods at a variety of price points. This classic approach, which became popular in department stores in the 1900s, is based on the concept of stocking three different quality levels – good, better and best – for your most popular categories of merchandise. An example would be tapers offered in a no-frills bulk pack, as a pair tied together with a ribbon, and as a gift box of hand-dipped candles made by a local artisan. This strategy is sometimes known as Goldilocks pricing, because it offers something for everyone. You might think that would mean that shoppers would choose the price level that best fits their budget, however consumer behavior is more complicated than that. The good option does of course appeal to customers who can only afford a no-frills product. But those who can afford the luxury level will often choose the better option because they don’t need the features of the best product – or because they are being economically cautious. In this case, the fact that you offer items at a higher price point makes them feel better about choosing the ones in the middle range. Of course there are those for whom price is no object. Pam Danziger of Unity Marketing, who has spent decades studying the ups and downs of the luxury market, recently noted that “in the current economic climate, affluent consumers are taking a more measured approach to luxury spending.” While often turning away from expensive products that evoke status, they are still frequently interested in buying products that are at a higher price due to their quality. There are also middle-income shoppers whose high-ticket purchases are aspirational, spending beyond their budget to show that they appreciate well-made, durable merchandise. As a retailer, you will find that one advantage to stocking the G-B-B price points is that you can learn from experience which level of goods sell best for you. Your shoppers will vote with their dollars, allowing you to concentrate your inventory purchases on the range that is strongest for you in today’s economic climate. Buying Local Still Important Q: Our area’s shop-local organization lost some key personnel during the pandemic and hasn’t been active lately. Is that a movement worth our time and effort? A: Take a look at the enormous gains made by online shopping – especially Amazon – during the five years since the start of COVID-19, and you’ll see the reason for the declines that many independent stores have experienced since the pandemic began. While it was predicted in 2021 that the majority of consumers would be prioritizing shopping at neighborhood stores and buying locally sourced products once it was safe to shop in person, that hasn’t turned out to be the case. Buying online is so easy, and with the availability of free and almost instantaneous delivery, two of the major pain points have been removed. How can we convince customers to come to brick-and-mortar stores? First and foremost, we need to offer a shopping experience that is worth their while. Coming into your store needs to be a convenient, efficient and enjoyable option. The goods we offer must be what they want to buy. You can welcome shoppers warmly and have a delightful ambiance, but that doesn’t mean anything if your inventory doesn’t include the items they expect you to have – along with the serendipitous discoveries that make shopping in person so exciting. There are also great advantages to our communities having locally owned stores that are unique to our area. Our businesses support the regional economy, create jobs and have a positive social impact. It is also better for the environment since buying locally sourced merchandise reduces transportation costs, both at the wholesale and the consumer level. The best way to tell this story, and to remind customers of its efficacy, is through the buy local movement. By joining together, we can get the word out much more effectively. Together with the Small Business Administration (SBA), American Express has contributed enormously to this effort through Small Business Saturday. This annual event champions shopping small nationwide on Thanksgiving weekend, with an estimated $200 billion spent at small businesses since its inception in 2010. But we need to work locally to make this a year-round effort. If you don’t have a buy-local organization in your area, reach out to your business neighbors to work together to promote this concept to the public. An existing chamber of commerce or town government might be willing to sponsor your group. Be sure to include restaurants as well as service businesses and retailers, since everyone benefits from more local customers. You’ll want to establish some goals for your organization. Perhaps you primarily want to educate and engage your community around the issue of shopping and dining locally. You might also want to sponsor some events or create window signs and a website. Even a shared hashtag can be an effective way to show that your business community is committed to working together to promote this shared goal. Our group started using #monroestreetmadison a few years ago, and there are now more than 10,000 Instagram posts linked to that. While there are no longer strong national buy-local organizations to turn to for leadership, you can find inspiration and actionable ideas from dozens of localized initiatives around the country – and the world. Researching statistics supporting the economic benefits of shopping local is also important so that you have current material for social media posts and press releases. In a shopping environment becoming increasingly dominated by online sales (especially Amazon), it’s essential that we let our customers know the many reasons why shopping local matters. !function(f,b,e,v,n,t,s) if(f.fbq)return;n=f.fbq=function()n.callMethod? n.callMethod.apply(n,arguments):n.queue.push(arguments); if(!f._fbq)f._fbq=n;n.push=n;n.loaded=!0;n.version='2.0'; n.queue=[];t=b.createElement(e);t.async=!0; t.src=v;s=b.getElementsByTagName(e)[0]; s.parentNode.insertBefore(t,s)(window, document,'script', ' fbq('init', '693453330863834'); fbq('track', 'PageView'); Source link

[angusstory]

Sister publication Gifts & Decorative Accessories recently spoke with experienced retailer Carol Schroeder, co-owner of Orange Tree Imports in Madison, Wis., who shares advice on how to price products amid economic woes, plus how to propel the buy local movement and boost local small businesses. Good, Better, Best Q: Should we stock goods at lower price points during these tumultuous times? We’ve heard that shoppers are likely to be more cautious about their spending this year. A: These are indeed choppy waters for independent retailers to navigate, especially with the big unknown of tariffs on goods from certain countries. Customers may see prices creeping upwards due to these surcharges, and it’s hard to predict how that will impact their purchases. The safest way to protect yourself from big changes in shopping habits is to offer goods at a variety of price points. This classic approach, which became popular in department stores in the 1900s, is based on the concept of stocking three different quality levels – good, better and best – for your most popular categories of merchandise. An example would be tapers offered in a no-frills bulk pack, as a pair tied together with a ribbon, and as a gift box of hand-dipped candles made by a local artisan. This strategy is sometimes known as Goldilocks pricing, because it offers something for everyone. You might think that would mean that shoppers would choose the price level that best fits their budget, however consumer behavior is more complicated than that. The good option does of course appeal to customers who can only afford a no-frills product. But those who can afford the luxury level will often choose the better option because they don’t need the features of the best product – or because they are being economically cautious. In this case, the fact that you offer items at a higher price point makes them feel better about choosing the ones in the middle range. Of course there are those for whom price is no object. Pam Danziger of Unity Marketing, who has spent decades studying the ups and downs of the luxury market, recently noted that “in the current economic climate, affluent consumers are taking a more measured approach to luxury spending.” While often turning away from expensive products that evoke status, they are still frequently interested in buying products that are at a higher price due to their quality. There are also middle-income shoppers whose high-ticket purchases are aspirational, spending beyond their budget to show that they appreciate well-made, durable merchandise. As a retailer, you will find that one advantage to stocking the G-B-B price points is that you can learn from experience which level of goods sell best for you. Your shoppers will vote with their dollars, allowing you to concentrate your inventory purchases on the range that is strongest for you in today’s economic climate. Buying Local Still Important Q: Our area’s shop-local organization lost some key personnel during the pandemic and hasn’t been active lately. Is that a movement worth our time and effort? A: Take a look at the enormous gains made by online shopping – especially Amazon – during the five years since the start of COVID-19, and you’ll see the reason for the declines that many independent stores have experienced since the pandemic began. While it was predicted in 2021 that the majority of consumers would be prioritizing shopping at neighborhood stores and buying locally sourced products once it was safe to shop in person, that hasn’t turned out to be the case. Buying online is so easy, and with the availability of free and almost instantaneous delivery, two of the major pain points have been removed. How can we convince customers to come to brick-and-mortar stores? First and foremost, we need to offer a shopping experience that is worth their while. Coming into your store needs to be a convenient, efficient and enjoyable option. The goods we offer must be what they want to buy. You can welcome shoppers warmly and have a delightful ambiance, but that doesn’t mean anything if your inventory doesn’t include the items they expect you to have – along with the serendipitous discoveries that make shopping in person so exciting. There are also great advantages to our communities having locally owned stores that are unique to our area. Our businesses support the regional economy, create jobs and have a positive social impact. It is also better for the environment since buying locally sourced merchandise reduces transportation costs, both at the wholesale and the consumer level. The best way to tell this story, and to remind customers of its efficacy, is through the buy local movement. By joining together, we can get the word out much more effectively. Together with the Small Business Administration (SBA), American Express has contributed enormously to this effort through Small Business Saturday. This annual event champions shopping small nationwide on Thanksgiving weekend, with an estimated $200 billion spent at small businesses since its inception in 2010. But we need to work locally to make this a year-round effort. If you don’t have a buy-local organization in your area, reach out to your business neighbors to work together to promote this concept to the public. An existing chamber of commerce or town government might be willing to sponsor your group. Be sure to include restaurants as well as service businesses and retailers, since everyone benefits from more local customers. You’ll want to establish some goals for your organization. Perhaps you primarily want to educate and engage your community around the issue of shopping and dining locally. You might also want to sponsor some events or create window signs and a website. Even a shared hashtag can be an effective way to show that your business community is committed to working together to promote this shared goal. Our group started using #monroestreetmadison a few years ago, and there are now more than 10,000 Instagram posts linked to that. While there are no longer strong national buy-local organizations to turn to for leadership, you can find inspiration and actionable ideas from dozens of localized initiatives around the country – and the world. Researching statistics supporting the economic benefits of shopping local is also important so that you have current material for social media posts and press releases. In a shopping environment becoming increasingly dominated by online sales (especially Amazon), it’s essential that we let our customers know the many reasons why shopping local matters. !function(f,b,e,v,n,t,s) if(f.fbq)return;n=f.fbq=function()n.callMethod? n.callMethod.apply(n,arguments):n.queue.push(arguments); if(!f._fbq)f._fbq=n;n.push=n;n.loaded=!0;n.version='2.0'; n.queue=[];t=b.createElement(e);t.async=!0; t.src=v;s=b.getElementsByTagName(e)[0]; s.parentNode.insertBefore(t,s)(window, document,'script', ' fbq('init', '693453330863834'); fbq('track', 'PageView'); Source link

[tumibaba]

Sister publication Gifts & Decorative Accessories recently spoke with experienced retailer Carol Schroeder, co-owner of Orange Tree Imports in Madison, Wis., who shares advice on how to price products amid economic woes, plus how to propel the buy local movement and boost local small businesses. Good, Better, Best Q: Should we stock goods at lower price points during these tumultuous times? We’ve heard that shoppers are likely to be more cautious about their spending this year. A: These are indeed choppy waters for independent retailers to navigate, especially with the big unknown of tariffs on goods from certain countries. Customers may see prices creeping upwards due to these surcharges, and it’s hard to predict how that will impact their purchases. The safest way to protect yourself from big changes in shopping habits is to offer goods at a variety of price points. This classic approach, which became popular in department stores in the 1900s, is based on the concept of stocking three different quality levels – good, better and best – for your most popular categories of merchandise. An example would be tapers offered in a no-frills bulk pack, as a pair tied together with a ribbon, and as a gift box of hand-dipped candles made by a local artisan. This strategy is sometimes known as Goldilocks pricing, because it offers something for everyone. You might think that would mean that shoppers would choose the price level that best fits their budget, however consumer behavior is more complicated than that. The good option does of course appeal to customers who can only afford a no-frills product. But those who can afford the luxury level will often choose the better option because they don’t need the features of the best product – or because they are being economically cautious. In this case, the fact that you offer items at a higher price point makes them feel better about choosing the ones in the middle range. Of course there are those for whom price is no object. Pam Danziger of Unity Marketing, who has spent decades studying the ups and downs of the luxury market, recently noted that “in the current economic climate, affluent consumers are taking a more measured approach to luxury spending.” While often turning away from expensive products that evoke status, they are still frequently interested in buying products that are at a higher price due to their quality. There are also middle-income shoppers whose high-ticket purchases are aspirational, spending beyond their budget to show that they appreciate well-made, durable merchandise. As a retailer, you will find that one advantage to stocking the G-B-B price points is that you can learn from experience which level of goods sell best for you. Your shoppers will vote with their dollars, allowing you to concentrate your inventory purchases on the range that is strongest for you in today’s economic climate. Buying Local Still Important Q: Our area’s shop-local organization lost some key personnel during the pandemic and hasn’t been active lately. Is that a movement worth our time and effort? A: Take a look at the enormous gains made by online shopping – especially Amazon – during the five years since the start of COVID-19, and you’ll see the reason for the declines that many independent stores have experienced since the pandemic began. While it was predicted in 2021 that the majority of consumers would be prioritizing shopping at neighborhood stores and buying locally sourced products once it was safe to shop in person, that hasn’t turned out to be the case. Buying online is so easy, and with the availability of free and almost instantaneous delivery, two of the major pain points have been removed. How can we convince customers to come to brick-and-mortar stores? First and foremost, we need to offer a shopping experience that is worth their while. Coming into your store needs to be a convenient, efficient and enjoyable option. The goods we offer must be what they want to buy. You can welcome shoppers warmly and have a delightful ambiance, but that doesn’t mean anything if your inventory doesn’t include the items they expect you to have – along with the serendipitous discoveries that make shopping in person so exciting. There are also great advantages to our communities having locally owned stores that are unique to our area. Our businesses support the regional economy, create jobs and have a positive social impact. It is also better for the environment since buying locally sourced merchandise reduces transportation costs, both at the wholesale and the consumer level. The best way to tell this story, and to remind customers of its efficacy, is through the buy local movement. By joining together, we can get the word out much more effectively. Together with the Small Business Administration (SBA), American Express has contributed enormously to this effort through Small Business Saturday. This annual event champions shopping small nationwide on Thanksgiving weekend, with an estimated $200 billion spent at small businesses since its inception in 2010. But we need to work locally to make this a year-round effort. If you don’t have a buy-local organization in your area, reach out to your business neighbors to work together to promote this concept to the public. An existing chamber of commerce or town government might be willing to sponsor your group. Be sure to include restaurants as well as service businesses and retailers, since everyone benefits from more local customers. You’ll want to establish some goals for your organization. Perhaps you primarily want to educate and engage your community around the issue of shopping and dining locally. You might also want to sponsor some events or create window signs and a website. Even a shared hashtag can be an effective way to show that your business community is committed to working together to promote this shared goal. Our group started using #monroestreetmadison a few years ago, and there are now more than 10,000 Instagram posts linked to that. While there are no longer strong national buy-local organizations to turn to for leadership, you can find inspiration and actionable ideas from dozens of localized initiatives around the country – and the world. Researching statistics supporting the economic benefits of shopping local is also important so that you have current material for social media posts and press releases. In a shopping environment becoming increasingly dominated by online sales (especially Amazon), it’s essential that we let our customers know the many reasons why shopping local matters. !function(f,b,e,v,n,t,s) if(f.fbq)return;n=f.fbq=function()n.callMethod? n.callMethod.apply(n,arguments):n.queue.push(arguments); if(!f._fbq)f._fbq=n;n.push=n;n.loaded=!0;n.version='2.0'; n.queue=[];t=b.createElement(e);t.async=!0; t.src=v;s=b.getElementsByTagName(e)[0]; s.parentNode.insertBefore(t,s)(window, document,'script', ' fbq('init', '693453330863834'); fbq('track', 'PageView'); Source link

[romaleen]

Sister publication Gifts & Decorative Accessories recently spoke with experienced retailer Carol Schroeder, co-owner of Orange Tree Imports in Madison, Wis., who shares advice on how to price products amid economic woes, plus how to propel the buy local movement and boost local small businesses. Good, Better, Best Q: Should we stock goods at lower price points during these tumultuous times? We’ve heard that shoppers are likely to be more cautious about their spending this year. A: These are indeed choppy waters for independent retailers to navigate, especially with the big unknown of tariffs on goods from certain countries. Customers may see prices creeping upwards due to these surcharges, and it’s hard to predict how that will impact their purchases. The safest way to protect yourself from big changes in shopping habits is to offer goods at a variety of price points. This classic approach, which became popular in department stores in the 1900s, is based on the concept of stocking three different quality levels – good, better and best – for your most popular categories of merchandise. An example would be tapers offered in a no-frills bulk pack, as a pair tied together with a ribbon, and as a gift box of hand-dipped candles made by a local artisan. This strategy is sometimes known as Goldilocks pricing, because it offers something for everyone. You might think that would mean that shoppers would choose the price level that best fits their budget, however consumer behavior is more complicated than that. The good option does of course appeal to customers who can only afford a no-frills product. But those who can afford the luxury level will often choose the better option because they don’t need the features of the best product – or because they are being economically cautious. In this case, the fact that you offer items at a higher price point makes them feel better about choosing the ones in the middle range. Of course there are those for whom price is no object. Pam Danziger of Unity Marketing, who has spent decades studying the ups and downs of the luxury market, recently noted that “in the current economic climate, affluent consumers are taking a more measured approach to luxury spending.” While often turning away from expensive products that evoke status, they are still frequently interested in buying products that are at a higher price due to their quality. There are also middle-income shoppers whose high-ticket purchases are aspirational, spending beyond their budget to show that they appreciate well-made, durable merchandise. As a retailer, you will find that one advantage to stocking the G-B-B price points is that you can learn from experience which level of goods sell best for you. Your shoppers will vote with their dollars, allowing you to concentrate your inventory purchases on the range that is strongest for you in today’s economic climate. Buying Local Still Important Q: Our area’s shop-local organization lost some key personnel during the pandemic and hasn’t been active lately. Is that a movement worth our time and effort? A: Take a look at the enormous gains made by online shopping – especially Amazon – during the five years since the start of COVID-19, and you’ll see the reason for the declines that many independent stores have experienced since the pandemic began. While it was predicted in 2021 that the majority of consumers would be prioritizing shopping at neighborhood stores and buying locally sourced products once it was safe to shop in person, that hasn’t turned out to be the case. Buying online is so easy, and with the availability of free and almost instantaneous delivery, two of the major pain points have been removed. How can we convince customers to come to brick-and-mortar stores? First and foremost, we need to offer a shopping experience that is worth their while. Coming into your store needs to be a convenient, efficient and enjoyable option. The goods we offer must be what they want to buy. You can welcome shoppers warmly and have a delightful ambiance, but that doesn’t mean anything if your inventory doesn’t include the items they expect you to have – along with the serendipitous discoveries that make shopping in person so exciting. There are also great advantages to our communities having locally owned stores that are unique to our area. Our businesses support the regional economy, create jobs and have a positive social impact. It is also better for the environment since buying locally sourced merchandise reduces transportation costs, both at the wholesale and the consumer level. The best way to tell this story, and to remind customers of its efficacy, is through the buy local movement. By joining together, we can get the word out much more effectively. Together with the Small Business Administration (SBA), American Express has contributed enormously to this effort through Small Business Saturday. This annual event champions shopping small nationwide on Thanksgiving weekend, with an estimated $200 billion spent at small businesses since its inception in 2010. But we need to work locally to make this a year-round effort. If you don’t have a buy-local organization in your area, reach out to your business neighbors to work together to promote this concept to the public. An existing chamber of commerce or town government might be willing to sponsor your group. Be sure to include restaurants as well as service businesses and retailers, since everyone benefits from more local customers. You’ll want to establish some goals for your organization. Perhaps you primarily want to educate and engage your community around the issue of shopping and dining locally. You might also want to sponsor some events or create window signs and a website. Even a shared hashtag can be an effective way to show that your business community is committed to working together to promote this shared goal. Our group started using #monroestreetmadison a few years ago, and there are now more than 10,000 Instagram posts linked to that. While there are no longer strong national buy-local organizations to turn to for leadership, you can find inspiration and actionable ideas from dozens of localized initiatives around the country – and the world. Researching statistics supporting the economic benefits of shopping local is also important so that you have current material for social media posts and press releases. In a shopping environment becoming increasingly dominated by online sales (especially Amazon), it’s essential that we let our customers know the many reasons why shopping local matters. !function(f,b,e,v,n,t,s) if(f.fbq)return;n=f.fbq=function()n.callMethod? n.callMethod.apply(n,arguments):n.queue.push(arguments); if(!f._fbq)f._fbq=n;n.push=n;n.loaded=!0;n.version='2.0'; n.queue=[];t=b.createElement(e);t.async=!0; t.src=v;s=b.getElementsByTagName(e)[0]; s.parentNode.insertBefore(t,s)(window, document,'script', ' fbq('init', '693453330863834'); fbq('track', 'PageView'); Source link

[monaleen101]

Sister publication Gifts & Decorative Accessories recently spoke with experienced retailer Carol Schroeder, co-owner of Orange Tree Imports in Madison, Wis., who shares advice on how to price products amid economic woes, plus how to propel the buy local movement and boost local small businesses. Good, Better, Best Q: Should we stock goods at lower price points during these tumultuous times? We’ve heard that shoppers are likely to be more cautious about their spending this year. A: These are indeed choppy waters for independent retailers to navigate, especially with the big unknown of tariffs on goods from certain countries. Customers may see prices creeping upwards due to these surcharges, and it’s hard to predict how that will impact their purchases. The safest way to protect yourself from big changes in shopping habits is to offer goods at a variety of price points. This classic approach, which became popular in department stores in the 1900s, is based on the concept of stocking three different quality levels – good, better and best – for your most popular categories of merchandise. An example would be tapers offered in a no-frills bulk pack, as a pair tied together with a ribbon, and as a gift box of hand-dipped candles made by a local artisan. This strategy is sometimes known as Goldilocks pricing, because it offers something for everyone. You might think that would mean that shoppers would choose the price level that best fits their budget, however consumer behavior is more complicated than that. The good option does of course appeal to customers who can only afford a no-frills product. But those who can afford the luxury level will often choose the better option because they don’t need the features of the best product – or because they are being economically cautious. In this case, the fact that you offer items at a higher price point makes them feel better about choosing the ones in the middle range. Of course there are those for whom price is no object. Pam Danziger of Unity Marketing, who has spent decades studying the ups and downs of the luxury market, recently noted that “in the current economic climate, affluent consumers are taking a more measured approach to luxury spending.” While often turning away from expensive products that evoke status, they are still frequently interested in buying products that are at a higher price due to their quality. There are also middle-income shoppers whose high-ticket purchases are aspirational, spending beyond their budget to show that they appreciate well-made, durable merchandise. As a retailer, you will find that one advantage to stocking the G-B-B price points is that you can learn from experience which level of goods sell best for you. Your shoppers will vote with their dollars, allowing you to concentrate your inventory purchases on the range that is strongest for you in today’s economic climate. Buying Local Still Important Q: Our area’s shop-local organization lost some key personnel during the pandemic and hasn’t been active lately. Is that a movement worth our time and effort? A: Take a look at the enormous gains made by online shopping – especially Amazon – during the five years since the start of COVID-19, and you’ll see the reason for the declines that many independent stores have experienced since the pandemic began. While it was predicted in 2021 that the majority of consumers would be prioritizing shopping at neighborhood stores and buying locally sourced products once it was safe to shop in person, that hasn’t turned out to be the case. Buying online is so easy, and with the availability of free and almost instantaneous delivery, two of the major pain points have been removed. How can we convince customers to come to brick-and-mortar stores? First and foremost, we need to offer a shopping experience that is worth their while. Coming into your store needs to be a convenient, efficient and enjoyable option. The goods we offer must be what they want to buy. You can welcome shoppers warmly and have a delightful ambiance, but that doesn’t mean anything if your inventory doesn’t include the items they expect you to have – along with the serendipitous discoveries that make shopping in person so exciting. There are also great advantages to our communities having locally owned stores that are unique to our area. Our businesses support the regional economy, create jobs and have a positive social impact. It is also better for the environment since buying locally sourced merchandise reduces transportation costs, both at the wholesale and the consumer level. The best way to tell this story, and to remind customers of its efficacy, is through the buy local movement. By joining together, we can get the word out much more effectively. Together with the Small Business Administration (SBA), American Express has contributed enormously to this effort through Small Business Saturday. This annual event champions shopping small nationwide on Thanksgiving weekend, with an estimated $200 billion spent at small businesses since its inception in 2010. But we need to work locally to make this a year-round effort. If you don’t have a buy-local organization in your area, reach out to your business neighbors to work together to promote this concept to the public. An existing chamber of commerce or town government might be willing to sponsor your group. Be sure to include restaurants as well as service businesses and retailers, since everyone benefits from more local customers. You’ll want to establish some goals for your organization. Perhaps you primarily want to educate and engage your community around the issue of shopping and dining locally. You might also want to sponsor some events or create window signs and a website. Even a shared hashtag can be an effective way to show that your business community is committed to working together to promote this shared goal. Our group started using #monroestreetmadison a few years ago, and there are now more than 10,000 Instagram posts linked to that. While there are no longer strong national buy-local organizations to turn to for leadership, you can find inspiration and actionable ideas from dozens of localized initiatives around the country – and the world. Researching statistics supporting the economic benefits of shopping local is also important so that you have current material for social media posts and press releases. In a shopping environment becoming increasingly dominated by online sales (especially Amazon), it’s essential that we let our customers know the many reasons why shopping local matters. !function(f,b,e,v,n,t,s) if(f.fbq)return;n=f.fbq=function()n.callMethod? n.callMethod.apply(n,arguments):n.queue.push(arguments); if(!f._fbq)f._fbq=n;n.push=n;n.loaded=!0;n.version='2.0'; n.queue=[];t=b.createElement(e);t.async=!0; t.src=v;s=b.getElementsByTagName(e)[0]; s.parentNode.insertBefore(t,s)(window, document,'script', ' fbq('init', '693453330863834'); fbq('track', 'PageView'); Source link

[iamownerofme]

Sister publication Gifts & Decorative Accessories recently spoke with experienced retailer Carol Schroeder, co-owner of Orange Tree Imports in Madison, Wis., who shares advice on how to price products amid economic woes, plus how to propel the buy local movement and boost local small businesses. Good, Better, Best Q: Should we stock goods at lower price points during these tumultuous times? We’ve heard that shoppers are likely to be more cautious about their spending this year. A: These are indeed choppy waters for independent retailers to navigate, especially with the big unknown of tariffs on goods from certain countries. Customers may see prices creeping upwards due to these surcharges, and it’s hard to predict how that will impact their purchases. The safest way to protect yourself from big changes in shopping habits is to offer goods at a variety of price points. This classic approach, which became popular in department stores in the 1900s, is based on the concept of stocking three different quality levels – good, better and best – for your most popular categories of merchandise. An example would be tapers offered in a no-frills bulk pack, as a pair tied together with a ribbon, and as a gift box of hand-dipped candles made by a local artisan. This strategy is sometimes known as Goldilocks pricing, because it offers something for everyone. You might think that would mean that shoppers would choose the price level that best fits their budget, however consumer behavior is more complicated than that. The good option does of course appeal to customers who can only afford a no-frills product. But those who can afford the luxury level will often choose the better option because they don’t need the features of the best product – or because they are being economically cautious. In this case, the fact that you offer items at a higher price point makes them feel better about choosing the ones in the middle range. Of course there are those for whom price is no object. Pam Danziger of Unity Marketing, who has spent decades studying the ups and downs of the luxury market, recently noted that “in the current economic climate, affluent consumers are taking a more measured approach to luxury spending.” While often turning away from expensive products that evoke status, they are still frequently interested in buying products that are at a higher price due to their quality. There are also middle-income shoppers whose high-ticket purchases are aspirational, spending beyond their budget to show that they appreciate well-made, durable merchandise. As a retailer, you will find that one advantage to stocking the G-B-B price points is that you can learn from experience which level of goods sell best for you. Your shoppers will vote with their dollars, allowing you to concentrate your inventory purchases on the range that is strongest for you in today’s economic climate. Buying Local Still Important Q: Our area’s shop-local organization lost some key personnel during the pandemic and hasn’t been active lately. Is that a movement worth our time and effort? A: Take a look at the enormous gains made by online shopping – especially Amazon – during the five years since the start of COVID-19, and you’ll see the reason for the declines that many independent stores have experienced since the pandemic began. While it was predicted in 2021 that the majority of consumers would be prioritizing shopping at neighborhood stores and buying locally sourced products once it was safe to shop in person, that hasn’t turned out to be the case. Buying online is so easy, and with the availability of free and almost instantaneous delivery, two of the major pain points have been removed. How can we convince customers to come to brick-and-mortar stores? First and foremost, we need to offer a shopping experience that is worth their while. Coming into your store needs to be a convenient, efficient and enjoyable option. The goods we offer must be what they want to buy. You can welcome shoppers warmly and have a delightful ambiance, but that doesn’t mean anything if your inventory doesn’t include the items they expect you to have – along with the serendipitous discoveries that make shopping in person so exciting. There are also great advantages to our communities having locally owned stores that are unique to our area. Our businesses support the regional economy, create jobs and have a positive social impact. It is also better for the environment since buying locally sourced merchandise reduces transportation costs, both at the wholesale and the consumer level. The best way to tell this story, and to remind customers of its efficacy, is through the buy local movement. By joining together, we can get the word out much more effectively. Together with the Small Business Administration (SBA), American Express has contributed enormously to this effort through Small Business Saturday. This annual event champions shopping small nationwide on Thanksgiving weekend, with an estimated $200 billion spent at small businesses since its inception in 2010. But we need to work locally to make this a year-round effort. If you don’t have a buy-local organization in your area, reach out to your business neighbors to work together to promote this concept to the public. An existing chamber of commerce or town government might be willing to sponsor your group. Be sure to include restaurants as well as service businesses and retailers, since everyone benefits from more local customers. You’ll want to establish some goals for your organization. Perhaps you primarily want to educate and engage your community around the issue of shopping and dining locally. You might also want to sponsor some events or create window signs and a website. Even a shared hashtag can be an effective way to show that your business community is committed to working together to promote this shared goal. Our group started using #monroestreetmadison a few years ago, and there are now more than 10,000 Instagram posts linked to that. While there are no longer strong national buy-local organizations to turn to for leadership, you can find inspiration and actionable ideas from dozens of localized initiatives around the country – and the world. Researching statistics supporting the economic benefits of shopping local is also important so that you have current material for social media posts and press releases. In a shopping environment becoming increasingly dominated by online sales (especially Amazon), it’s essential that we let our customers know the many reasons why shopping local matters. !function(f,b,e,v,n,t,s) if(f.fbq)return;n=f.fbq=function()n.callMethod? n.callMethod.apply(n,arguments):n.queue.push(arguments); if(!f._fbq)f._fbq=n;n.push=n;n.loaded=!0;n.version='2.0'; n.queue=[];t=b.createElement(e);t.async=!0; t.src=v;s=b.getElementsByTagName(e)[0]; s.parentNode.insertBefore(t,s)(window, document,'script', ' fbq('init', '693453330863834'); fbq('track', 'PageView'); Source link

[shelyold]

Sister publication Gifts & Decorative Accessories recently spoke with experienced retailer Carol Schroeder, co-owner of Orange Tree Imports in Madison, Wis., who shares advice on how to price products amid economic woes, plus how to propel the buy local movement and boost local small businesses. Good, Better, Best Q: Should we stock goods at lower price points during these tumultuous times? We’ve heard that shoppers are likely to be more cautious about their spending this year. A: These are indeed choppy waters for independent retailers to navigate, especially with the big unknown of tariffs on goods from certain countries. Customers may see prices creeping upwards due to these surcharges, and it’s hard to predict how that will impact their purchases. The safest way to protect yourself from big changes in shopping habits is to offer goods at a variety of price points. This classic approach, which became popular in department stores in the 1900s, is based on the concept of stocking three different quality levels – good, better and best – for your most popular categories of merchandise. An example would be tapers offered in a no-frills bulk pack, as a pair tied together with a ribbon, and as a gift box of hand-dipped candles made by a local artisan. This strategy is sometimes known as Goldilocks pricing, because it offers something for everyone. You might think that would mean that shoppers would choose the price level that best fits their budget, however consumer behavior is more complicated than that. The good option does of course appeal to customers who can only afford a no-frills product. But those who can afford the luxury level will often choose the better option because they don’t need the features of the best product – or because they are being economically cautious. In this case, the fact that you offer items at a higher price point makes them feel better about choosing the ones in the middle range. Of course there are those for whom price is no object. Pam Danziger of Unity Marketing, who has spent decades studying the ups and downs of the luxury market, recently noted that “in the current economic climate, affluent consumers are taking a more measured approach to luxury spending.” While often turning away from expensive products that evoke status, they are still frequently interested in buying products that are at a higher price due to their quality. There are also middle-income shoppers whose high-ticket purchases are aspirational, spending beyond their budget to show that they appreciate well-made, durable merchandise. As a retailer, you will find that one advantage to stocking the G-B-B price points is that you can learn from experience which level of goods sell best for you. Your shoppers will vote with their dollars, allowing you to concentrate your inventory purchases on the range that is strongest for you in today’s economic climate. Buying Local Still Important Q: Our area’s shop-local organization lost some key personnel during the pandemic and hasn’t been active lately. Is that a movement worth our time and effort? A: Take a look at the enormous gains made by online shopping – especially Amazon – during the five years since the start of COVID-19, and you’ll see the reason for the declines that many independent stores have experienced since the pandemic began. While it was predicted in 2021 that the majority of consumers would be prioritizing shopping at neighborhood stores and buying locally sourced products once it was safe to shop in person, that hasn’t turned out to be the case. Buying online is so easy, and with the availability of free and almost instantaneous delivery, two of the major pain points have been removed. How can we convince customers to come to brick-and-mortar stores? First and foremost, we need to offer a shopping experience that is worth their while. Coming into your store needs to be a convenient, efficient and enjoyable option. The goods we offer must be what they want to buy. You can welcome shoppers warmly and have a delightful ambiance, but that doesn’t mean anything if your inventory doesn’t include the items they expect you to have – along with the serendipitous discoveries that make shopping in person so exciting. There are also great advantages to our communities having locally owned stores that are unique to our area. Our businesses support the regional economy, create jobs and have a positive social impact. It is also better for the environment since buying locally sourced merchandise reduces transportation costs, both at the wholesale and the consumer level. The best way to tell this story, and to remind customers of its efficacy, is through the buy local movement. By joining together, we can get the word out much more effectively. Together with the Small Business Administration (SBA), American Express has contributed enormously to this effort through Small Business Saturday. This annual event champions shopping small nationwide on Thanksgiving weekend, with an estimated $200 billion spent at small businesses since its inception in 2010. But we need to work locally to make this a year-round effort. If you don’t have a buy-local organization in your area, reach out to your business neighbors to work together to promote this concept to the public. An existing chamber of commerce or town government might be willing to sponsor your group. Be sure to include restaurants as well as service businesses and retailers, since everyone benefits from more local customers. You’ll want to establish some goals for your organization. Perhaps you primarily want to educate and engage your community around the issue of shopping and dining locally. You might also want to sponsor some events or create window signs and a website. Even a shared hashtag can be an effective way to show that your business community is committed to working together to promote this shared goal. Our group started using #monroestreetmadison a few years ago, and there are now more than 10,000 Instagram posts linked to that. While there are no longer strong national buy-local organizations to turn to for leadership, you can find inspiration and actionable ideas from dozens of localized initiatives around the country – and the world. Researching statistics supporting the economic benefits of shopping local is also important so that you have current material for social media posts and press releases. In a shopping environment becoming increasingly dominated by online sales (especially Amazon), it’s essential that we let our customers know the many reasons why shopping local matters. !function(f,b,e,v,n,t,s) if(f.fbq)return;n=f.fbq=function()n.callMethod? n.callMethod.apply(n,arguments):n.queue.push(arguments); if(!f._fbq)f._fbq=n;n.push=n;n.loaded=!0;n.version='2.0'; n.queue=[];t=b.createElement(e);t.async=!0; t.src=v;s=b.getElementsByTagName(e)[0]; s.parentNode.insertBefore(t,s)(window, document,'script', ' fbq('init', '693453330863834'); fbq('track', 'PageView'); Source link

[iammeandmy]

Sister publication Gifts & Decorative Accessories recently spoke with experienced retailer Carol Schroeder, co-owner of Orange Tree Imports in Madison, Wis., who shares advice on how to price products amid economic woes, plus how to propel the buy local movement and boost local small businesses. Good, Better, Best Q: Should we stock goods at lower price points during these tumultuous times? We’ve heard that shoppers are likely to be more cautious about their spending this year. A: These are indeed choppy waters for independent retailers to navigate, especially with the big unknown of tariffs on goods from certain countries. Customers may see prices creeping upwards due to these surcharges, and it’s hard to predict how that will impact their purchases. The safest way to protect yourself from big changes in shopping habits is to offer goods at a variety of price points. This classic approach, which became popular in department stores in the 1900s, is based on the concept of stocking three different quality levels – good, better and best – for your most popular categories of merchandise. An example would be tapers offered in a no-frills bulk pack, as a pair tied together with a ribbon, and as a gift box of hand-dipped candles made by a local artisan. This strategy is sometimes known as Goldilocks pricing, because it offers something for everyone. You might think that would mean that shoppers would choose the price level that best fits their budget, however consumer behavior is more complicated than that. The good option does of course appeal to customers who can only afford a no-frills product. But those who can afford the luxury level will often choose the better option because they don’t need the features of the best product – or because they are being economically cautious. In this case, the fact that you offer items at a higher price point makes them feel better about choosing the ones in the middle range. Of course there are those for whom price is no object. Pam Danziger of Unity Marketing, who has spent decades studying the ups and downs of the luxury market, recently noted that “in the current economic climate, affluent consumers are taking a more measured approach to luxury spending.” While often turning away from expensive products that evoke status, they are still frequently interested in buying products that are at a higher price due to their quality. There are also middle-income shoppers whose high-ticket purchases are aspirational, spending beyond their budget to show that they appreciate well-made, durable merchandise. As a retailer, you will find that one advantage to stocking the G-B-B price points is that you can learn from experience which level of goods sell best for you. Your shoppers will vote with their dollars, allowing you to concentrate your inventory purchases on the range that is strongest for you in today’s economic climate. Buying Local Still Important Q: Our area’s shop-local organization lost some key personnel during the pandemic and hasn’t been active lately. Is that a movement worth our time and effort? A: Take a look at the enormous gains made by online shopping – especially Amazon – during the five years since the start of COVID-19, and you’ll see the reason for the declines that many independent stores have experienced since the pandemic began. While it was predicted in 2021 that the majority of consumers would be prioritizing shopping at neighborhood stores and buying locally sourced products once it was safe to shop in person, that hasn’t turned out to be the case. Buying online is so easy, and with the availability of free and almost instantaneous delivery, two of the major pain points have been removed. How can we convince customers to come to brick-and-mortar stores? First and foremost, we need to offer a shopping experience that is worth their while. Coming into your store needs to be a convenient, efficient and enjoyable option. The goods we offer must be what they want to buy. You can welcome shoppers warmly and have a delightful ambiance, but that doesn’t mean anything if your inventory doesn’t include the items they expect you to have – along with the serendipitous discoveries that make shopping in person so exciting. There are also great advantages to our communities having locally owned stores that are unique to our area. Our businesses support the regional economy, create jobs and have a positive social impact. It is also better for the environment since buying locally sourced merchandise reduces transportation costs, both at the wholesale and the consumer level. The best way to tell this story, and to remind customers of its efficacy, is through the buy local movement. By joining together, we can get the word out much more effectively. Together with the Small Business Administration (SBA), American Express has contributed enormously to this effort through Small Business Saturday. This annual event champions shopping small nationwide on Thanksgiving weekend, with an estimated $200 billion spent at small businesses since its inception in 2010. But we need to work locally to make this a year-round effort. If you don’t have a buy-local organization in your area, reach out to your business neighbors to work together to promote this concept to the public. An existing chamber of commerce or town government might be willing to sponsor your group. Be sure to include restaurants as well as service businesses and retailers, since everyone benefits from more local customers. You’ll want to establish some goals for your organization. Perhaps you primarily want to educate and engage your community around the issue of shopping and dining locally. You might also want to sponsor some events or create window signs and a website. Even a shared hashtag can be an effective way to show that your business community is committed to working together to promote this shared goal. Our group started using #monroestreetmadison a few years ago, and there are now more than 10,000 Instagram posts linked to that. While there are no longer strong national buy-local organizations to turn to for leadership, you can find inspiration and actionable ideas from dozens of localized initiatives around the country – and the world. Researching statistics supporting the economic benefits of shopping local is also important so that you have current material for social media posts and press releases. In a shopping environment becoming increasingly dominated by online sales (especially Amazon), it’s essential that we let our customers know the many reasons why shopping local matters. !function(f,b,e,v,n,t,s) if(f.fbq)return;n=f.fbq=function()n.callMethod? n.callMethod.apply(n,arguments):n.queue.push(arguments); if(!f._fbq)f._fbq=n;n.push=n;n.loaded=!0;n.version='2.0'; n.queue=[];t=b.createElement(e);t.async=!0; t.src=v;s=b.getElementsByTagName(e)[0]; s.parentNode.insertBefore(t,s)(window, document,'script', ' fbq('init', '693453330863834'); fbq('track', 'PageView'); Source link

[januishstory]

Sister publication Gifts & Decorative Accessories recently spoke with experienced retailer Carol Schroeder, co-owner of Orange Tree Imports in Madison, Wis., who shares advice on how to price products amid economic woes, plus how to propel the buy local movement and boost local small businesses. Good, Better, Best Q: Should we stock goods at lower price points during these tumultuous times? We’ve heard that shoppers are likely to be more cautious about their spending this year. A: These are indeed choppy waters for independent retailers to navigate, especially with the big unknown of tariffs on goods from certain countries. Customers may see prices creeping upwards due to these surcharges, and it’s hard to predict how that will impact their purchases. The safest way to protect yourself from big changes in shopping habits is to offer goods at a variety of price points. This classic approach, which became popular in department stores in the 1900s, is based on the concept of stocking three different quality levels – good, better and best – for your most popular categories of merchandise. An example would be tapers offered in a no-frills bulk pack, as a pair tied together with a ribbon, and as a gift box of hand-dipped candles made by a local artisan. This strategy is sometimes known as Goldilocks pricing, because it offers something for everyone. You might think that would mean that shoppers would choose the price level that best fits their budget, however consumer behavior is more complicated than that. The good option does of course appeal to customers who can only afford a no-frills product. But those who can afford the luxury level will often choose the better option because they don’t need the features of the best product – or because they are being economically cautious. In this case, the fact that you offer items at a higher price point makes them feel better about choosing the ones in the middle range. Of course there are those for whom price is no object. Pam Danziger of Unity Marketing, who has spent decades studying the ups and downs of the luxury market, recently noted that “in the current economic climate, affluent consumers are taking a more measured approach to luxury spending.” While often turning away from expensive products that evoke status, they are still frequently interested in buying products that are at a higher price due to their quality. There are also middle-income shoppers whose high-ticket purchases are aspirational, spending beyond their budget to show that they appreciate well-made, durable merchandise. As a retailer, you will find that one advantage to stocking the G-B-B price points is that you can learn from experience which level of goods sell best for you. Your shoppers will vote with their dollars, allowing you to concentrate your inventory purchases on the range that is strongest for you in today’s economic climate. Buying Local Still Important Q: Our area’s shop-local organization lost some key personnel during the pandemic and hasn’t been active lately. Is that a movement worth our time and effort? A: Take a look at the enormous gains made by online shopping – especially Amazon – during the five years since the start of COVID-19, and you’ll see the reason for the declines that many independent stores have experienced since the pandemic began. While it was predicted in 2021 that the majority of consumers would be prioritizing shopping at neighborhood stores and buying locally sourced products once it was safe to shop in person, that hasn’t turned out to be the case. Buying online is so easy, and with the availability of free and almost instantaneous delivery, two of the major pain points have been removed. How can we convince customers to come to brick-and-mortar stores? First and foremost, we need to offer a shopping experience that is worth their while. Coming into your store needs to be a convenient, efficient and enjoyable option. The goods we offer must be what they want to buy. You can welcome shoppers warmly and have a delightful ambiance, but that doesn’t mean anything if your inventory doesn’t include the items they expect you to have – along with the serendipitous discoveries that make shopping in person so exciting. There are also great advantages to our communities having locally owned stores that are unique to our area. Our businesses support the regional economy, create jobs and have a positive social impact. It is also better for the environment since buying locally sourced merchandise reduces transportation costs, both at the wholesale and the consumer level. The best way to tell this story, and to remind customers of its efficacy, is through the buy local movement. By joining together, we can get the word out much more effectively. Together with the Small Business Administration (SBA), American Express has contributed enormously to this effort through Small Business Saturday. This annual event champions shopping small nationwide on Thanksgiving weekend, with an estimated $200 billion spent at small businesses since its inception in 2010. But we need to work locally to make this a year-round effort. If you don’t have a buy-local organization in your area, reach out to your business neighbors to work together to promote this concept to the public. An existing chamber of commerce or town government might be willing to sponsor your group. Be sure to include restaurants as well as service businesses and retailers, since everyone benefits from more local customers. You’ll want to establish some goals for your organization. Perhaps you primarily want to educate and engage your community around the issue of shopping and dining locally. You might also want to sponsor some events or create window signs and a website. Even a shared hashtag can be an effective way to show that your business community is committed to working together to promote this shared goal. Our group started using #monroestreetmadison a few years ago, and there are now more than 10,000 Instagram posts linked to that. While there are no longer strong national buy-local organizations to turn to for leadership, you can find inspiration and actionable ideas from dozens of localized initiatives around the country – and the world. Researching statistics supporting the economic benefits of shopping local is also important so that you have current material for social media posts and press releases. In a shopping environment becoming increasingly dominated by online sales (especially Amazon), it’s essential that we let our customers know the many reasons why shopping local matters. !function(f,b,e,v,n,t,s) if(f.fbq)return;n=f.fbq=function()n.callMethod? n.callMethod.apply(n,arguments):n.queue.push(arguments); if(!f._fbq)f._fbq=n;n.push=n;n.loaded=!0;n.version='2.0'; n.queue=[];t=b.createElement(e);t.async=!0; t.src=v;s=b.getElementsByTagName(e)[0]; s.parentNode.insertBefore(t,s)(window, document,'script', ' fbq('init', '693453330863834'); fbq('track', 'PageView'); Source link

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