Do Election Years Affect Retail Sales?
Knowing that retail sales have regular cycles that can be disrupted by external events, we asked ourselves do election years affect retail sales? So, we did a little research to see what we could expect from this election year. What we found was that there does appear to be two patterns of influence. Firstly, the [...]
Planning For Success In 2012
By Steve Pruitt, Founder, Blacks Retail Now that we’re into the new year, it is time to start planning how you can make the most of 2012, despite the uncertainty of the economic climate. As we all know, consumers’ buying habits have changed with the economic tides, and this is probably altered the consistency of [...]
Could the Super Committee Be the Grinch That Steals Christmas?
Retailers beware–there could be a new Grinch this Christmas. If the Congressional “super committee” tasked with cutting at least $1.2 trillion from the federal budget doesn’t come to agreement by their Nov. 23 deadline, consumer confidence could fall even further, taking a serious toll on holiday retail sales. “Given the partisan stance of the committee [...]
Don’t Let Double-Dip Fears Drag You Down
Following the debt deal fiasco, the U.S. debt downgrade by S&P, and the violent stock market swings over the last two days, retailers are feeling understandably shaken. But how realistic are fears that a double dip recession is coming? We talked to Blacks Retail Senior Consultant Steve Pruitt about how this economic shakeup differs from [...]
Top Five Fall Strategies
After a summer of retail gains, it’s important that you keep up the momentum into fall. We predict positive single-digit growth for the season, but it will take a little extra work on your part to keep customers motivated. Here are top five tips for making the most of the fall season: 1) Get in [...]
Introducing Blacks Technology Services
Most of our clients would say that their businesses are driven by fashion and consumer mood. But when it comes to what makes our clients successful, the real driver is information. They need to know which trends are moving product and what their customers want. With this information, they are able to generate more business. [...]
How to Uncover the Trends Within Your Business
Industry trends are relatively easy to spot–they are in magazines, on showroom floors, and in the media. But what about the trends taking place in your own business? These can be different than industry trends, and sometimes they’re harder to detect because you have to be able to do a careful, microscopic analysis of your [...]
How To Handle Spring Markdows
Although April retail sales came in surprisingly well—with major retail chains reporting an 8.9% surge—we expect spring sales to slow earlier than usual this year, due to the late Easter and lack of strong apparel trends. With this in mind, we asked Blacks’ Senior Consultant Steve Pruitt how merchants should plan for the rest of [...]
Do You Know Which Vendors Are Dragging Down Your Business?
By Blacks Senior Consultant Steve Pruitt As a retailer, it’s essential to know which vendors are contributing the most to your profits, and which are contributing the least. Vendor analysis is the only way you can figure out which vendors to fund, and which to cut, if you want to foster growth. I’ve known some [...]
Five Questions for Steve – Fall Trends, Increasing Profits & Slowdown Predictions
As part of a continuing series to keep you up to date and sharpen your retail skills, Blacks reporting service again sat down with Blacks Retail Founder and Senior Consultant Steve Pruitt to discuss trends, profits and how weather is affecting sales. Here’s the lowdown: 1) You went to market this past week in NYC. [...]
Five Questions for Steve – Retail Quandries & Expert Answers
The retail climate is constantly changing, so the more information merchants have, the better decisions they can make. With this in mind, Blacks reporting service sat down with Blacks Retail Founder and Senior Consultant Steve Pruitt to take his pulse on the current climate. With over 30 years of experience helping retailers across the country [...]
Do You Have a 2011 Retail Strategy?
With the bustle of the holidays now behind us, it’s time to focus on our retail strategies for the New Year. To help you with your planning, here are Blacks’ forecasts for 2011 and the important areas we believe retailers should focus on if they want to continue to grow and adapt in the current [...]
Blacks’ Holiday Forecasts and Strategies
The holiday shopping season is looking brighter for retailers in 2010. Even the National Retail Federation (NRF) is predicting a 3.3% sales gain compared to last year, with stronger gains for clothing and accessories. At Blacks, we’re expecting menswear to surge 17% over last year, with women’s gaining around 8%, and luxury retailers landing on [...]
Top 5 Retail Mistakes
Although the retail economic recovery started some time ago, some merchants are holding onto their recession mindset. The problem with this is that merchants who are overly cautious are missing out on growth opportunities. And since the recession weeded out some of the weakest retailers, competition amongst the stronger retailers has increased. So, are you [...]
The Menswear Shift: Target a New Generation of Customers
By Blacks Senior Consultant, Steve Pruitt Overview: For the past two decades, traditional menswear retailers have been catering to a uniquely wealthy and fashion-oriented group of men from the Baby Boomer generation. However, a dramatic change in the financial landscape, and the Boomers’ exit from the marketplace, means that retailers must target a new generation [...]
2010 Retail Resolutions
By Blacks Senior Consultant, Steve Pruitt
Let’s be frank – 2009 was a tough year. As a retailer there’s not a lot you can do when consumers stop spending, except manage your business as best as you can and wait for the tide to turn.
The problem many retailers faced this last year was that they had failed to put some key management principles in place before the economy went sour, which made it harder to keep their businesses afloat.
Top 5 Things To Do The Day After Christmas
All eyes are on Christmas right now, but soon the holiday will be a distant (and hopefully pleasant) memory and you’ll be faced with what to do the day after. Since we’d hate to see you unprepared, here’s Blacks list of top things retailers need to do the day after Christmas. 1) Take an aspirin, [...]
Your Christmas Week Strategy
A note to retailers: We are now one week away from Christmas and all your events and promotions should be in place. If you are thinking of hatching a new strategy, don’t do it. You’re only job right now is to sell and enjoy each day, because whether you are up or down against last [...]
Steep Markdowns vs. Carryover – Which Road Should You Take?
By Blacks Senior Consultant Steve Pruitt
Several retailers have asked me lately when it is appropriate to take steep markdown to clear goods, and when they should be carried over.
The Importance of Landing Goods More Often
Retailers often ask me how to improve sales and even out cash flow and one answer always leads the list – you have to plan out your flow of new goods. Gone are the days of seasonal buying, when retailers purchased a lump sum of goods to land sometime within the season. In the past, [...]
Coping with Wholesale Price Increases
There’s no doubt about it – the rising cost of better goods combined with a lack of new trends is taking its toll on better retailers. The price of European goods has risen 10% a season over the last few years and Chinese manufacturers are bumping up their costs as well. The price hikes mean [...]
Blacks Consulting Partners with Patrick James Promotions
If you have immediate concerns about paying your suppliers, we can help you generate revenue through a funded promotional sale performed by our partners at Patrick James Promotions (PJP). For over 20 years, Patrick James has helped better menswear and women’s wear retailers create timely cash infusions for their stores. What’s more, they are fellow [...]
Down Market Survival: Chase The Trends
There’s no denying it – we’re in a down market. But the first rule of a down market is that there’s a guaranteed opportunity for growth in the future. When business is trending down it’s pretty easy to see which categories are holding; these are the low-hanging fruit. A category that’s not dropping as quickly [...]
Coping With Lower Price Points
A year ago today Lehman Brothers collapsed, setting in motion one of the biggest financial crises this century. Since then, a lot has changed in the world of luxury apparel. We’ve seen 30% sales decreases since October of last year and the market is just now starting to improve. In response to the situation, almost [...]
